A raft of firms including Dewey & LeBoeuf and Simmons & Simmons have won roles on the proposed acquisition of a uranium company set to create a group worth more than £400m.

The deal will see Canada's Uranium Participation Corporation (UPC) take over Guernsey-based Uranium Limited, which is valued at around £84m.

Dewey & LeBoeuf took the lead role advising longstanding client UPC on all English law and US securities matters, with London corporate partner Lynn McCaw leading.

EU and competition chief Peter Crowther assisted on competition matters for Dewey, while London-based litigators Francis Mackie and Peter Sharp assisted on court-related matters.

UPC turned to Canadian firm Heenan Blaikie for local advice while Carey Olsen corporate partner Tom Carey advised in Guernsey.

Uranium Limited turned to regular counsel Simmons, where City finance partner Richard May took the lead role. The company also took advice from Canadian firm Stikeman Elliott. Ozannes finance partner Gavin Farrell provided Guernsey law advice.

The combined company is set to hold a dominant position in uranium trading.

McCaw said: "This deal shows there is interest in cross-border transactions. It also shows that people are starting to pull their heads out of the sand and those who haven't done deals for a while are looking at doing them again."