• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Arcadium Lithium says shareholders approved Rio Tinto deal

by December 23, 2024
written by December 23, 2024

Investing.com — Shareholders of Arcadium Lithium have given the green light for a $6.7 billion sale to Australian mining heavyweight Rio Tinto (NYSE:RIO), as announced by the company on Monday.

This news was met with positivity in the stock market, with Arcadium’s shares climbing over 2% in after-hours trading.

However, the path to the deal is not without its obstacles. Arcadium is currently dealing with legal challenges from a section of its shareholders.

These shareholders have lodged lawsuits against the company, accusing it of misrepresentation, concealment, and negligence in relation to the takeover deal. This information was disclosed by Arcadium in a regulatory filing earlier this month.

Earlier in the year, Rio Tinto stated its intention to acquire Arcadium at a price of $5.85 per share, which was paid in cash. This purchase price represented a nearly 90% premium on Arcadium’s closing stock price on October 4, the day a potential deal was first reported by Reuters.

The acquisition will grant Rio Tinto access to Arcadium’s lithium mines, processing facilities, and deposits located in Argentina, Australia, Canada, and the United States.

Additionally, Rio Tinto will also inherit Arcadium’s customer base, which includes major automotive manufacturers such as Tesla (NASDAQ:TSLA), BMW (ETR:BMWG), and General Motors (NYSE:GM).

“We are confident that this transaction will provide future benefit to our customers, employees and the communities in which we operate, and I am excited by the path ahead,” Paul Graves, the president and chief executive officer of Arcadium Lithium said in a statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
U.S. stocks higher at close of trade; Dow Jones Industrial Average up 0.16%
next post
Nicaragua mulls state control over leadership of private banks

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 5, 2025
    • This California startup is cleaning water and removing CO₂ from the atmosphere — all at a reduced cost

      June 5, 2025
    • OpenAI tops 3 million paying business users, launches new features for workplace

      June 5, 2025
    • Nationwide coordinated retail crime crackdown results in hundreds of arrests, authorities say

      June 4, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (502)
    • Stock (6,426)

    Latest News

    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes
    • This California startup is cleaning water and removing CO₂ from the atmosphere — all at a reduced cost

    Popular News

    • China says new housing metrics behind upward revision to 2023 GDP
    • ‘Elon Premium’ boosts Tesla, but also presents risk, says Barclays

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy