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UEX announces superior bid

Kitco Media
By Jim Wyckoff
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Exploration and development company UEX (TSX:UEX) said today it received a superior acquisition deal from Denison Mines.

UEX is a Canadian company focused on uranium and cobalt projects. It previously announced an acquisition deal with Uranium Energy Corp.

"The unsolicited non-binding proposal that was received by the company from Denison Mines...for the acquisition of all of the issued and outstanding common shares of UEX in consideration for common shares of Denison constitutes a 'Superior Proposal,'" wrote the company.

UEX said that Denison proposes to acquire each UEX Share in exchange for 0.32 Denison shares, which represents a 7% premium to the price implied by the UEC-Uranium Energy deal based on the one-day volume weighted average price on August 8, 2022.

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Jim Wyckoff

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York. As a journalist, he has covered every futures market traded in the U.S., at one time or another.

Jim is the proprietor of the "Jim Wyckoff on the Markets" analytical, educational and trading advisory service. Jim also worked as a technical analyst for Dow Jones Newswires and as the senior market analyst with TraderPlanet.com. Jim is also a consultant with the highly respected "Pro Farmer" agricultural advisory service. Jim was also the head equities analyst at CapitalistEdge.com. He received his degree from Iowa State University in Ames, Iowa, where he studied journalism and economics.

Follow Jim daily on Kitco.com as he provides both AM and PM roundups and a daily Technical Special. 1 877 963-NEWS jwyckoff at kitco.com

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