Champion Iron Limited announced acquisition of Norwegian iron ore producer Rana Gruber ASA for $289 million through cash tender offer at NOK 79 per share. The transaction received unanimous board support & pre-acceptance commitments from shareholders controlling 51% of outstanding shares. Champion will finance the acquisition through $100 million equity placement from La Caisse, $150 million term loan from Scotiabank, & existing cash reserves. The strategic acquisition expands Champion's geographic footprint into European markets while diversifying product portfolio toward high-grade concentrates serving green steel supply chains.