Rio Tinto agrees $6.7bn cash deal for Arcadium Lithium

90% share price premium

Linus Uhlig
clock • 2 min read

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...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Linus Uhlig
Author spotlight

Linus Uhlig

Linus Uhlig is a reporter at Investment Week

More on Companies

Sinking Pennon Group takes top spot as most shorted UK stock in Q1

Sinking Pennon Group takes top spot as most shorted UK stock in Q1

Kingfisher in second place

Eve Maddock-Jones
clock 02 April 2025 • 4 min read
Raspberry Pi's profits fall over 50% after 'transformative year' for the company

Raspberry Pi's profits fall over 50% after 'transformative year' for the company

Following June 2024 IPO

Linus Uhlig
clock 02 April 2025 • 2 min read
Kleinwort Hambros becomes UBP's UK arm following takeover

Kleinwort Hambros becomes UBP's UK arm following takeover

All London teams to move into Marylebone

Sorin Dojan
clock 01 April 2025 • 1 min read
Trustpilot