Cameco Shares Melt Down On Acquisition News
The world’s largest publicly traded uranium company, Cameco Corp., is falling on news that it’s acquiring Westinghouse Electric Company. However, it won’t be tackling the deal on its own; it’s recruiting the help of Brookfield Renewable Partners. 🤝
Under the $4.5 billion deal terms, they’ll split the cost and ownership almost evenly. Ultimately, Cameco will own 49% of Westinghouse Electric, and Brookfield Renewable will own 51%. And although Cameco has the funds on hand to support the acquisition, it is seeking alternatives to fund the deal to maintain its balance sheet health.