ASX Market Update: Index rises as Rio Tinto eyes Arcadium Lithium in takeover bid | October 7, 2024
The ASX200 has been up around 0.6% of a percent at 8,198 points in early afternoon trade. The labour day holiday in some states has seen the bourse trading in lower volumes, as investors continue to digest the unfolding conflict in the Middle East.
Arcadium Lithium (ASX:LTM) share price soars on Rio Tinto (ASX:RIO) approach
The Arcadium Lithium CDI (ASX:LTM) share price is up 44% after receiving some takeover interest from Rio Tinto Ltd (ASX:RIO).
Lithium dominates ASX after Rio Tinto offer
The ASX advanced only marginally, but lithium was a big standout after Rio Tinto (ASX:RIO) confirmed its offer for Arcadium Lithium (ASX:LTM).
Rio Tinto has made a takeover approach to Arcadium Lithium
Rio Tinto has made a takeover approach to Arcadium Lithium which, if successful, would deliver it immediate production and a company which is looking to double sales over the next four years.
Arcadium Lithium Confirms Approach by Rio Tinto
The approach is non-binding and there is no certainty that any transaction will be agreed to or will proceed. Arcadium Lithium will not comment further unless and until there is news to share. Arcadium Lithium remains focused on executing its strategic vision and pathway to significant growth,
Arcadium Lithium shares rocket 46% on Rio Tinto takeover approach
Arcadium Lithium (ASX: LTM) and Rio Tinto Ltd (ASX: RIO) shares are in the spotlight today on some big takeover
Rio Tinto and Arcadium confirm takeover talks
Rio Tinto says it has approached Arcadium Lithium about a takeover, but there is no certainty a deal will be struck. Rio and Arcadium both issued statements on Monday confirming the takeover offer, which has been talked about for months,
Rio Tinto looks to snap up Arcadium before lithium prices recover
Rio Tinto is in talks to buy lithium producer Arcadium Lithium, both companies confirmed on Monday, with the global miner pouncing following a slump in prices for the ultralight metal essential to the world's shift to clean energy.
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