Canada competition watchdog clears Rio Tinto bid for Hathor

Tue Nov 22, 2011 8:34pm EST
 
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MELBOURNE (Reuters) - Canada's competition watchdog has cleared global miner Rio Tinto's (RIO.AX: Quote) C$654 million ($630 million) takeover offer for Hathor Exploration HAT.TO, Rio Tinto said on Wednesday.

Rio Tinto raised its friendly bid for the uranium explorer last week to C$4.70 a share, trumping a sweetened hostile bid from Canada's largest uranium producer, Cameco Corp (CCO.TO: Quote).

Rio's offer is due to close on November 30.

($1 = 1.0373 Canadian dollars)

(Reporting by Sonali Paul; Editing by Ed Davies)