Energy fuel company will acquire Australian strategic materials company for 300 million Australian dollars.

Uranium and key mineral producer Energy Fuels Inc. will acquire rare earth producer Australian Strategic Materials Limited, the two companies said in a statement on Wednesday. The Australian company's equity is valued at 447 million Australian dollars. Under the deal, shareholders of Australian Strategic Materials will receive 0.053 shares of Energy Fuels for each share of Australian Strategic Materials they hold, as well as a special dividend of up to 0.13 Australian dollars per share, giving each share of Australian Strategic Materials an implied total value of 1.60 Australian dollars. This represents a 121% premium over ASM's closing price on January 20th.