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ARMZ Seeks Rest of Uranium One for $1.3 Billion; Won’t Raise Bid

JSC Atomredmetzoloto, a Russian state-owned uranium miner, said it plans to buy the shares it doesn’t own in Uranium One Inc. for C$1.3 billion ($1.32 billion) and take the company private.

Atomredmetzoloto, which together with units owns 51.4 percent of Uranium One, and its Effective Energy NV affiliate offered C$2.86 a share, the Vancouver-based target said in a statement today. The offer from the Moscow-based company, known as ARMZ, is a 32 percent premium to Uranium One’s 20-day weighted average price in Toronto, it said. It won’t be increased, ARMZ Chairman Vadim Zhivov said.