Mike Ralston, CEO of Blencowe Resources, explains the significance of the MSP for Orom-Cross. Watch the interview here.
Investing.com-- Anglo-Australian miner Rio Tinto Ltd (ASX:RIO) had approached U.S.-listed Arcadium Lithium PLC (NYSE:ALTM) over a potential takeover, both parties said in separate statements on Monday without presenting any financial details.
Reports last week said Rio was considering a takeover, which could value Arcadium between $4 billion and $6 billion, or even higher. Arcadium’s market capitalization was around $3 billion on Friday, while its shares surged about 36% after the report.
Rio confirmed that it was considering a takeover, but noted that the approach was “non-binding,” and that there was no certainty that any deal would be reached.
The potential deal comes as global metal producers rush to consolidate supplies of lithium, with demand for the metal set to surge from use in electric vehicles and a global push towards electrification in the coming decades.
The deal could potentially make Rio one of the world’s largest lithium producers.
Separate reports showed Australian Arcadium shareholder Blackwattle Investment Partners stating that any offer between $4 billion and $6 billion would undervalue Arcadium.
gla
Nicknaim, well done with your recent trades.
I sold some positions with Aviva 496p, after the interim ex dividend (11.9p)
I then bought the same positions after all the dealing costs were 23.55p lower!
Every investor has a strategy and now and again top slicing works for me.
gla
"I always wanted a Savill Row suit, if any wealthy people out there want to treat me."
Labour is about to open a 'Pre-loved' clothes shop !!!
The window displaying...... a dummy wearing a 50K suit!
A source close to the trough said we are overwhelmed with expensive gifts 🎁🎉🎁
2TK sends his warmest wishes to pensioners because most won't be warm this Christmas .
Brent crude oil futures declined by 2.2% to settle at $71.06 per barrel on Friday, marking their lowest level since December 2021, as OPEC+ struggled to ease market concerns about global supply and demand. OPEC+ postponed its planned production increase of 180,000 barrels per day until December, which would have added about 2.2 million barrels per day to the market through the end of next year. Meanwhile, recent economic data from China and the U.S. revealed weaknesses in their manufacturing sectors, raising fears of declining demand. Additionally, potential increases in oil supply from Libya, due to political factions nearing an agreement, added downward pressure. However, an unexpected large drawdown in U.S. crude inventories—down 6.9 million barrels, far exceeding the anticipated 1.1 million barrel draw—provided some relief. Brent prices sank over 9% drop on the week.
From Sky news...truth or fake?
The US investor has teamed up with Patron Capital Partners in a effort to trump a rival offer from FTSE100 housebuilder PSN....SKY news learns!
LGEN which has owned CALA was expected to make a decision imminently about which of the two bidders to sell it to.
LGEN could yet opt to retain ownership if neither of the final bids for the HB match it's price.
gla
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