Arcadium Lithium has received all required regulatory approvals ahead of its proposed $6.7bn acquisition by Rio Tinto, clearing the way for the deal to proceed.
The approvals include merger-control clearance in Australia, Canada, China, Japan, South Korea, the UK, and the US, along with investment-screening approvals in Australia, Canada, Italy, the UK, and the US.
The Royal Court of Jersey is scheduled to hold a sanctions hearing on 5 March 2025 to consider Arcadium Lithium’s application under the Scheme of Arrangement process.
The transaction is expected to close on 6 March 2025, subject to court approval.
Following the completion of the acquisition, Arcadium Lithium’s shares will be delisted from the New York Stock Exchange (NYSE), and its CHESS Depositary Receipts (CDIs) will be removed from the Australian Securities Exchange (ASX).
First announced in October 2024, the deal will see Arcadium Lithium shareholders receive $5.85 per share under the terms of the agreement.
Rio Tinto aims to strengthen its position in the energy transition sector by integrating Arcadium Lithium’s operations into its portfolio.
Arcadium Lithium has a vertically integrated business covering lithium extraction and manufacturing, with operations in Argentina, Australia, Canada, China, and the US.
The company specialises in lithium chemical manufacturing and extraction, including hard-rock mining, conventional brine extraction, and direct lithium extraction.
Currently, Arcadium Lithium has an annual production capacity of 75,000 tonnes of lithium carbonate equivalent and plans to more than double this output by 2028.
The acquisition is expected to enhance Rio Tinto’s lithium capabilities in key markets such as Argentina and Quebec, with production capacity projected to increase by 130% within Rio Tinto’s existing geographies.
