ASX-listed Arcadium Lithium surges to 7-month high on Rio Tinto's $6.7 bln offer

Arcadium Lithium

10/10/2024 01:38

** ASX-listed shares of Arcadium Lithium  LTM.AX  surge
39.6% to A$8.25, their highest levels since March 5
    ** Stock up after Rio Tinto  RIO.AX  says it agreed to buy
the U.S.-based lithium producer for $6.7 billion
    ** Rio says it would pay $5.85 per share in cash for
Arcadium, an almost 90% premium to its closing price on Oct 4,
the day Reuters exclusively reported a potential deal
    ** LTM stock down 26.7% YTD  
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))