Arcadium Lithium Shareholders Approve $6.7 Billion Rio Tinto Deal

Foreks - Arcadium Lithium announced that its shareholders voted in favor of a $6.7 billion sale to the Australian mining giant Rio Tinto. The deal, expected to be completed by mid-2025, will elevate Rio Tinto to become the world's third-largest lithium miner, following Albemarle and SQM. Arcadium is facing legal hurdles due to a lawsuit filed by some shareholders, alleging misrepresentation, concealment, and neglect related to the acquisition agreement. Earlier this year, Rio Tinto had announced it would pay $5.85 in cash per share for Arcadium. The Australian miner will gain access to Arcadium's lithium mines, processing facilities, and deposits in Argentina, Australia, Canada, and the U.S., as well as customers including Tesla, BMW, and General Motors.