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ARMZ makes A$1.16bn offer for Mantra

Russian uranium producer JSC Atomredmetzoloto (ARMZ) has agreed to pay A$1.16 billion (US$1.15 billion) in an all-cash purchase for Australian-based Mantra Resources Ltd.

ARMZ, a subsidiary of nuclear holding company Rosatom Corp, will pay A$8/share for Mantra, which is a 5.5% premium to the company's trading price before its shares were halted on the ASX.

A successful takeover of Mantra would provide ARMZ with access to the c...