Taurus Mineral - a company formed by CGNPC Uranium Resources Co and The China-Africa Development Fund - has agreed a Â£632m deal for Kalahari Minerals.
The 243.55p per share offer is a premium of approximately 16.1% to the average closing price of 209.7p for the six months prior to and including 4 March - the latest practicable business day prior to the first announcement by CGNPC-URC of a possible offer for Kalahari.
Kalahari executive chairman Mark Hohnen said: "The Husab Uranium Project is a world class uranium asset that has tremendous strategic importance in the industry due to its quality and scale.
"In the light of the unexpected circumstances in Japan and their impact on uranium equities, the Kalahari directors recognises the altered market dynamic and subsequently views the Offer from CGNPC-URC as attractive.
"The Kalahari Directors view CGNPC-URC as an excellent partner for the realisation of the full potential of the Husab Uranium Project to the benefit of all stakeholders."
At 1:48pm: (LON:KAH) share price was +7.88p at 242.38p
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