Rio Tinto agreed to acquire U.S. based Arcadium Lithium in about $6.7 billion all-cash deal, which would cement the company as the one of the largest lithium producers in the world and strengthening its role in the growing electric vehicle battery supply chain.
Rio Tinto will pay Arcadium $5.85 per share, representing a premium of 90% to Arcadium's $3.08 closing price on Oct. 4, 2024, a statement from press release revealed.
