Toro Energy Receives $75m Takeover Bid from IsoEnergy
Canadian company IsoEnergy has made a $75 million bid for Australia's Toro Energy (ASX: TOE) to strengthen its top-tier uranium portfolio.
The proposed takeover will add Toro's Wiluna uranium project in Western Australia to IsoEnergy's assets, including the Centipede-Millipede, Lake Way, and Lake Maitland deposits.
- IsoEnergy's current assets include past-producing US mines and the Hurricane deposit in Canada's Athabasca Basin.
- The company currently holds 6 million Toro shares, equivalent to 4% of the company.
No comment from the companies on the bid.
Author's summary: IsoEnergy bids $75m for Toro Energy.
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