Takeover of Arcadium Lithium9 Oct 2024 12:06
From the Evening Standard:
London listed mining giant Rio Tinto today moved to secure a major foothold in the global supply of lithium, a key component in electric car batteries, with a $6.7 billion (£5.1 billion) takeover of one of America’s biggest producers.
Rio is paying $5.85p a share in cash for Arcadium Lithium, a 90% premium to its $3.08 closing price on October 4.