IsoEnergy, a Canadian company, is set to acquire Australian operator Toro Energy for A$75m, adding the Wiluna uranium project in Western Australia to its portfolio. The offer involves exchanging 0.036 of an IsoEnergy share for each Toro share, giving Toro shareholders 7.1% ownership in the combined entity. This represents a 79.7% premium over Toro’s last closing price. The merger will create a company with 55.2 million pounds of uranium oxide resources measured and indicated, positioning it to benefit from a growing global uranium market. Toro’s independent board committee has advised shareholders to support the transaction, with major shareholder Mega Uranium expressing its intention to vote in favor. Last year, IsoEnergy and Purepoint Uranium Group formed a joint venture to explore and develop uranium properties in Canada’s Athabasca basin.

Read more at Yahoo Finance: IsoEnergy to acquire Toro Energy to expand uranium portfolio