Tuesday, January 11, 2011

General Electric Asset Management Buying Uranium Producer's Shares Open Market (GE; PDN.asx)

From ProActive Investors:
General Electric buys stake in Paladin Energy
US$197 billion market capped GE (NYSE: GE) asset management arm, GE Asset Management acquired 1,579,595 shares in Paladin Energy (ASX: PDN) in on market purchases on 6th January at an average price of $5.00 per share.

GE commenced buying shares in Paladin in September. GE now holds a 5.18% stake in Paladin which has a market capitalisation of A$3.61 billion.

Currently PDN is trading at $5.03.
From Paladin:
11 January 2011
Becoming a substantial holder