The world’s second-largest miner Rio Tinto said it will acquire U.S. lithium producer Arcadium for $6.7 billion.
Rio Tinto said the deal would be an all-cash transaction for $5.85 per share, representing a premium of 90% to Arcadium’s Oct. 4 closing price of $3.08 per share. Looks like Rio is not paying too much attention what their copper head said back in May 2024, „we see much more value in building mines rather than buying existing assets“.
Our SUNARES fund owns Arcadium Lithium and many other small and mid-cap mining stocks in the area of copper, gold, silver, lithium and rare earth metals. Probably most of them are trading at a levels where you have to offer at least 90% premium in order to ‚own‘ them and it looks like Rio made a first (big) smart step forward in the lithium mining industry … 😉

https://www.cnbc.com/2024/10/09/mining-giant-rio-tinto-to-acquire-us-lithium-producer-arcadium-in-6point7-billion-deal.html?__source=sharebar|linkedin&par=sharebar