British-Australian mining corporation Rio Tinto has agreed a deal worth $6.7bn for Philadelphia-based lithium producer Arcadium Lithium.
Representing a 90% premium to Arcadium's closing share price of $3.08 per share on Friday (4 October), the deal agreed will see Rio Tinto pay $5.85 per share for the company that debuted on the New York Stock Exchange in January this year. BlackRock agrees £2.55bn deal to acquire Preqin in private markets expansion Jakob Stausholm, Rio Tinto's CEO, said: "Acquiring Arcadium Lithium is a significant step forward in Rio Tinto's long-term strategy, creating a world-class lithium business alongside our leading aluminium and copper operations to supply materials needed for the energy tran...
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