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Summit says stake sale to Areva won`t proceed
ASX-listed Summit Resources Ltd, Australia`s uranium explorer that accepted a A$1.19 billion (US$1 billion) takeover offer from Paladin Resources Ltd, said it won`t proceed with an agreement to sell a stake to Areva SA.
Shareholders won`t be asked to approve the investment by Areva as a result of “various” discussions Summit had with Paladin, Summit said [...]
