Arcadium Lithium Shares Rise After U.S. Clearance for Rio Tinto Buyout

Dow Jones01-08 23:25

By Chris Wack

Arcadium Lithium shares were up 9% to $5.73 after the company said the Committee on Foreign Investment in the U.S. concluded its review of the proposed acquisition of Arcadium Lithium by Rio Tinto and determined that there are no unresolved national security concerns.

The lithium chemicals producer said that merger control clearance has so far been satisfied or waived in Australia, Canada, China, Japan, South Korea, the U.K. and the U.S.

The transaction remains subject to investment screening approvals in Australia, Canada and Italy, as well as other customary closing conditions.

In October, Rio Tinto said it would pay $5.85 a share in cash to acquire the lithium producer, a deal valued at $6.7 billion.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 08, 2025 10:25 ET (15:25 GMT)

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