* Mantra stock plunges 33 percent
* Uranium One stock off 6 percent
TORONTO, March 16 Canada's No. 2 uranium
producer, Uranium One UUU.TO, said on Wednesday the nuclear
crisis in Japan has put in jeopardy its ability to complete an
acquisition of Mantra Resources MRU.AXMRL.TO, sending
shares in the target company down 33 percent.
Uranium One, which is pursuing the all-cash A$1.2 billion
($1.18 billion) deal through its largest shareholder, Russia's
ARMZ, said it would continue discussions to seek other avenues
for the transaction.
"ARMZ believes that the recent serious events at the
nuclear power plant in Fukushima, Japan are likely to have a
material adverse effect on the business, results of operations,
assets or liabilities, financial position or prospects of
Mantra," Uranium One said in a statement.
Mantra's Toronto-listed shares fell $2.54, or 33 percent,
to C$4.45 in midafternoon trade on Wednesday.
Shares of Uranium One, which operates primarily in
Kazakhstan, rose over 7 percent on open on the Toronto Stock
Exchange but later fell 6.17 percent to C$3.50 per share.
(Reporting by Pav Jordan; Editing by Steve Orlofsky)