$108 Billion Australia Mining Giant Rio Tinto to Buy Lithium Chemicals Company Arcadium for $6.7 Billion in All-Cash-Deal Representing +39% Premium to Volume Weighted Average Price on 4th October 2024
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$108 Billion Australia Mining Giant Rio Tinto to Buy Lithium Chemicals Company Arcadium for $6.7 Billion in All-Cash-Deal Representing +39% Premium to Volume Weighted Average Price on 4th October 2024
12th October 2024 | Hong Kong
Australia mining giant Rio Tinto ($108 billion market value) has announced to buy lithium chemicals company Arcadium for $6.7 billion in all-cash-deal,representing +39% premium to Arcadium Volume Weighted Average Price (VWAP) on 4th October 2024 (From 4/1/24).Announcement (9/10/24):Rio Tinto and Arcadium Lithium plc today announced a definitive agreement (the “Transaction Agreement”) under which Rio Tinto will acquire Arcadium in an all-cash transaction for US$5.85 per share (the “Transaction”). The Transaction represents a premium of 90% to Arcadium’s closing price of $3.08 per share on 4 October 2024, a premium of 39% to Arcadium’s volume-weighted average price (VWAP) since Arcadium was created on 4 January 2024, and values Arcadium’s diluted share capital at approximately $6.7 billion.The Transaction will bring Arcadium’s world-class, complementary lithium business into Rio Tinto’s portfolio, establishing a global leader in energy transition commodities – from aluminium and copper to high-grade iron ore and lithium.Arcadium is a global, fast-growing, vertically integrated lithium chemicals producer with an asset base of long-life, low-cost operations and growth projects. It has leading capabilities in lithium chemicals manufacturing and extraction processes, including hard-rock mining, conventional brine extraction and direct lithium extraction. Arcadium’s current annual lithium production capacity across a range of products including lithium hydroxide and lithium carbonate is 75,000 tonnes lithium carbonate equivalent, with expansion plans in place to more than double capacity by the end of 2028. Arcadium’s global operations, comprising approximately 2,400 employees, include facilities and projects in Argentina, Australia, Canada, China, Japan, the United Kingdom and the United States.”
“ $108 Billion Australia Mining Giant Rio Tinto to Buy Lithium Chemicals Company Arcadium for $6.7 Billion in All-Cash-Deal Representing +39% Premium to Volume Weighted Average Price on 4th October 2024 “
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Arcadium Lithium – Arcadium Lithium is a leading global lithium chemicals producer committed to safely and responsibly harnessing the power of lithium to improve people’s lives and accelerate the transition to a clean energy future. Arcadium Lithium collaborates with their customers to drive innovation and power a more sustainable world in which lithium enables exciting possibilities for renewable energy, electric transportation and modern life. Arcadium Lithium is vertically integrated, with industry-leading capabilities across lithium extraction processes, including hard-rock mining, conventional brine extraction and direct lithium extraction (DLE), and in lithium chemicals manufacturing for high performance applications. They have operations around the world, with facilities and projects in Argentina, Australia, Canada, China, Japan, the United Kingdom and the United States.
$108 Billion Australia Mining Giant Rio Tinto to Buy Lithium Chemicals Company Arcadium for $6.7 Billion in All-Cash-Deal Representing +39% Premium to Volume Weighted Average Price on 4th October 2024
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