Energy Fuels(TSX:EFR,NYSEMKT:UUUU) has closed its acquisition of Uranerz Energy (TSX:URZ,NYSEMKT:URZ), marking an important development in terms of consolidation in the uranium space. Announced in January, the merger has created "the only integrated conventional and in-situ recovery uranium mining company focused solely on the United States." The new company also has both the largest NI 43-101 resource base among producers and near producers in the US, and a combined six uranium sales contracts through 2020. Under the terms of the agreement, each Uranerz shareholder received 0.255 of an Energy Fuels common share for each Uranerz common stock held. Holders of Uranerz options and warrants are now entitled to acquire 0.255 common shares equal to the exercise price divided by 0.255. Uranerz was delisted from the NYSE MKT and Toronto Stock Exchange on Friday. "With the completion of our acquisition of Uranerz, Energy Fuels is clearly emerging as a leading integrated producer of uranium in the U.S.," said Energy Fuels' president and CEO, Stephen P. Antony. "Our goal is to become the largest uranium mining company in the U.S., strategically supplying the domestic American nuclear power market, and this transaction is a major step towards achieving that goal." Institutional Shareholder Services, a large, independent proxy advisory firm, recommended this month that shareholders of both companies support the transaction, and they did so on June 18. The merger combines Energy Fuels' conventional uranium production with Uranerz's ISR assets. Initially, some had raised concerns about merging the two types of businesses, and had noted that Energy Fuels had agreed to pay about a 40-percent premium to Uranerz's share price despite a weak uranium price. Still, others are happy with the deal, and most agree that the combined company will be stronger and more competitive in the US.