Rio Tinto Expands into Lithium Market with $6.7 Billion Acquisition

Rio Tinto strengthens its position in the renewable energy sector by acquiring lithium producer Arcadium Lithium for $6.7 billion.

Rio Tinto is set to acquire the chemical producer Arcadium Lithium in a $6.7bn £5.12bn deal. The multinational mining behemoth announced the all-cash transaction this morning and called the acquisition of the global business a “significant step forward”. It amounts to $5.85 per share, and a premium of 90 per cent on Arcadium’s closing price of $3.08 per share on 4 October, Rio Tinto said.

“Arcadium Lithium is an outstanding business and we will bring our scale, development capabilities and financial strength to realise the full potential of its Tier 1 portfolio. “We look forward to building on Arcadium Lithium’s contributions to the countries and communities where it operates, drawing on the strong presence we have in these regions.

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