AECL

Nordion said in August it had settled a five-year-old lawsuit with AECL, receiving C$15 million in settlement of its C$244 million claim.

It said in August it had settled a five-year-old lawsuit with AECL, its main supplier, receiving C$15 million in settlement of its C$244 million claim.

An arbitration panel last year rejected Nordion's claim for damages against AECL.

SNC's bid is likely to give no value to AECL's reactor-building business and only price in its refurbishment operations, Northland NCP analyst Maxim Sytchev said.

"While the timing of AECL's acquisition is not ideal in the context of anti-nuclear sentiment, we believe that the asset will be priced to reflect the current reality," Sytchev said in an email to clients.