A takeover bid by Cameco has apparently received the blessing of the Canadian Competition Bureau.
Hathor Exploration Limited, the company that discovered the valuable Roughrider uranium deposit in the Athabasca Basin, is the subject of the hostile takeover attempt.
Shareholders are being offered 3.75 cents a share so Cameco can take over the company.
According to Cameco, the competition bureau does not intend to challenge the move.
Shareholders have until the end of this month to make up their minds about whether or not to accept the offer.