Reported 1 day ago
Arcadium Lithium announced that approximately 98% of its shareholders have voted in favor of a $6.7 billion acquisition by Rio Tinto. Following the news, Arcadium's shares increased by about 7% in extended trading. This deal, expected to finalize by mid-2025, will position Rio Tinto as the third-largest lithium miner globally, albeit the company faces legal challenges due to shareholder lawsuits alleging misrepresentation. Rio Tinto plans to pay $5.85 per share for Arcadium, significantly above previous stock prices, gaining access to valuable lithium resources.
Source: YAHOO