UPDATE 3-Medical isotope maker Nordion explores alternatives

Mon Jan 28, 2013 1:32pm EST
 
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* Jefferies & Co hired as adviser for strategic review

* Nordion suspended dividend in Sept after arbitration defeat

* Dispute with supplier AECL moves into court

* Shares jump 7 pct on Toronto Stock Exchange (Adds detail on earnings and market cap, background)

Jan 28 (Reuters) - Canada's Nordion Inc, a major provider of isotopes used in medical imaging, said on Monday it hired advisers to examine options for its future, sending its shares sharply higher.

Nordion suspended its dividend in September after an arbitration panel rejected its claim for damages from its main supplier, state-owned Atomic Energy of Canada Ltd, putting one of its core businesses in jeopardy.

The company said no decision had been made on a deal and it intends to stay with planned business activities during the strategic review. Jefferies & Co will advise the company in the review.

On a conference call with analysts and investors, Chief Executive Steve West said the review was in "early stages" and declined to comment further.

The company also reported financial results after postponing their release in December, when it said it was in discussions to amend the terms of a credit facility. It reached a new $80 million credit facility agreement on Jan. 25.   Continued...