Australian and British mining giant Rio Tinto has agreed to acquire US lithium maker Arcadium in an all-cash transaction for the New York Stock Exchange NYSE and Australian Securities Exchange ASX listed firm at $5.85 per share.
The deal represents a premium of 90% to Arcadium’s closing price of $3.08 per share on October 4,, a premium of 39% to Arcadium’s volume-weighted average price VWAP since Arcadium was created on January 4, 2024, and values Arcadium’s diluted share capital at approximately $6.7 billion.
Arcadium was formed through the all-stock merger of Allkem and Livent, after prices and demand came under pressure together the two firms had combined...
¬ Haymarket Media Limited. All rights reserved.
