Arcadium Lithium Shares Surge In Pre-market On News Of $6.7 Bln Acquisition By Rio Tinto

(RTTNews) - Shares of lithium producer, Arcadium Lithium plc (ALTM) were surging more than 30 percent in pre-market on Wednesday following the news that it is being acquired by mining major Rio Tinto in an all-cash transaction valued at $6.7 billion or $5.85 per share.

The Transaction represents a premium of 90 percent to Arcadium's closing price of $3.08 per share on October 4, 2024.

The deal is expected to close in mid-2025.

Arcadium Lithium stock had closed at $4.24, up 1.68 percent on Tuesday. It has traded in the range of $2.1900 - $7.8803 in the last 1 year.