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Rio Tinto wins bid for Hathor
FTSE 100 miner Rio Tinto yesterday declared a C$4.70 per share bid for Canadian uranium miner Hathor Exploration a success, after securing acceptances from over 70 per cent of its shareholders. The group said that around 94.95m Hathor shares were tendered by shareholders or already owned by Rio Tinto, representing 70.21 per cent of the company. Rio Tinto added that it has decided to extend its offer by ten days to 12 December to mop up the rest of the Hathor shares. The offer, which values Hathor at C$654m, trumped a rival bid from Canadian uranium major Cameco.