Australia's European Lithium soars on $835 million Critical Metals buyout bid

Critical Metals

28/04/2026 02:09

** Shares of European Lithium EUR.AX rise as much as 63.2% to A$0.465 in early trade, hitting their highest since October 15, 2025

** Stock books largest intraday surge since early October 2025

** U.S.-based Critical Metals CRML.O on Monday signed a letter of intent to buy the Australian miner in an about $835 million deal

** Deal would secure Critical Metals' full ownership over Greenland's Tanbreez rare earths project

** More than 42.1 million shares change hands, 6.1x the 30-day average volume of 6.9 million shares

** YTD, stock up nearly threefold, including the day's moves

(Reporting by Nikita Maria Jino and Shivangi Lahiri in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))