Australia's Lithium Power International surges on nod for buyout bid

Lithium Power International

04/03/2024 02:44

** Shares of Lithium Power International  LPI.AX  rise as
much as 1.8% to A$0.570, their highest since Nov. 18, 2022
    ** Specialty miner says Chile's Codelco has received
confirmation from the Foreign Investment Review Board of no
objection to acquisition of co under the scheme
    ** In October, co had received a buyout offer from a unit of
Corporación Nacional del Cobre de Chile (Codelco), the world's
largest copper producer
    ** About 2.4 mln shares change hands, 1.6x the 30-day avg
vol.
    ** Stock up ~2% YTD

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))