Stock Market News

Arcadium Lithium shareholders approve $6.7 billion Rio Tinto deal

2024.12.23 17:00

(Reuters) -Arcadium Lithium said on Monday its shareholders have voted in favor of a $6.7 billion sale to Australian mining giant Rio Tinto (NYSE:).

Shares of Arcadium Lithium rose about 7% in extended trading after the company said that about 98% of its shareholders had voted in favor of the sale.

The deal, expected to close in mid-2025, will catapult Rio Tinto to the world’s third-largest lithium miner position, just behind Albemarle (NYSE:) and SQM.

Arcadium is facing legal hurdles, as some shareholders have filed lawsuits against it alleging misrepresentation, concealment and negligence regarding the takeover deal, the company revealed in a regulatory filing earlier this month.

© Reuters. FILE PHOTO: The Rio Tinto logo is displayed above the global mining group's booth at the Prospectors and Developers Association of Canada (PDAC) annual conference in Toronto, Ontario, Canada March 7, 2023. REUTERS/Chris Helgren/File Photo

Earlier this year, Rio Tinto said it would pay $5.85 per share in cash for Arcadium, nearly a 90% premium to the stock’s closing price on Oct. 4, the day Reuters exclusively reported a potential deal.

The Australian miner will gain access to Arcadium’s lithium mines, processing facilities and deposits in Argentina, Australia, Canada and the United States as well as customers including Tesla (NASDAQ:), BMW (ETR:) and General Motors (NYSE:).



Source link

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 95,161.50 0.20%
ethereum
Ethereum (ETH) $ 3,437.26 3.81%
tether
Tether (USDT) $ 0.999275 0.22%
xrp
XRP (XRP) $ 2.29 5.44%
bnb
BNB (BNB) $ 689.79 1.90%
solana
Solana (SOL) $ 194.62 7.16%
dogecoin
Dogecoin (DOGE) $ 0.32743 5.48%
usd-coin
USDC (USDC) $ 1.00 0.18%
staked-ether
Lido Staked Ether (STETH) $ 3,428.05 3.51%
cardano
Cardano (ADA) $ 0.92025 4.56%
tron
TRON (TRX) $ 0.254843 2.68%
avalanche-2
Avalanche (AVAX) $ 39.79 9.57%
chainlink
Chainlink (LINK) $ 24.49 8.13%
the-open-network
Toncoin (TON) $ 5.72 6.01%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,082.67 3.70%
sui
Sui (SUI) $ 4.60 8.21%
shiba-inu
Shiba Inu (SHIB) $ 0.000023 6.15%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 94,704.37 0.12%
hedera-hashgraph
Hedera (HBAR) $ 0.317941 17.72%
stellar
Stellar (XLM) $ 0.379727 7.46%
polkadot
Polkadot (DOT) $ 7.43 7.47%
hyperliquid
Hyperliquid (HYPE) $ 28.96 8.80%
weth
WETH (WETH) $ 3,441.08 3.98%
bitcoin-cash
Bitcoin Cash (BCH) $ 468.58 7.24%
leo-token
LEO Token (LEO) $ 9.44 0.33%
uniswap
Uniswap (UNI) $ 14.21 4.72%
litecoin
Litecoin (LTC) $ 108.63 7.15%
pepe
Pepe (PEPE) $ 0.000019 6.51%
bitget-token
Bitget Token (BGB) $ 4.89 19.41%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,629.52 3.76%
near
NEAR Protocol (NEAR) $ 5.56 9.27%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.26%
aave
Aave (AAVE) $ 377.65 12.91%
aptos
Aptos (APT) $ 9.62 6.00%
usds
USDS (USDS) $ 1.00 0.18%
internet-computer
Internet Computer (ICP) $ 10.97 9.59%
crypto-com-chain
Cronos (CRO) $ 0.163836 7.17%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.513821 8.38%
vechain
VeChain (VET) $ 0.051238 12.14%
ethereum-classic
Ethereum Classic (ETC) $ 27.65 5.71%
mantle
Mantle (MNT) $ 1.22 3.56%
render-token
Render (RENDER) $ 7.81 10.84%
bittensor
Bittensor (TAO) $ 499.42 11.36%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.38 8.76%
mantra-dao
MANTRA (OM) $ 3.77 7.02%
whitebit
WhiteBIT Coin (WBT) $ 24.47 0.20%
monero
Monero (XMR) $ 189.03 1.33%
arbitrum
Arbitrum (ARB) $ 0.815933 7.93%
dai
Dai (DAI) $ 1.00 0.27%
algorand
Algorand (ALGO) $ 0.394164 10.81%