Arcadium Lithium jumps after Rio Tinto announces $6.7 bln deal

Piedmont Lithium

09/10/2024 10:22

(Adds peers)
    ** Shares of Arcadium Lithium  ALTM.N  jump 30% in premarket
trade 
    ** Stock up after Rio Tinto  RIO.L   RIO.AX  said it would
acquire the Pennsylvania-based lithium producer for $6.7 billion
    ** Australian-listed shares of Rio Tinto fell as much as
2.3% to A$118.190, their fourth straight session of losses
    ** Peers Lithium Americas  LAC.TO , Albemarle  ALB.N , Sigma
Lithium  SGML.O  and Piedmont Lithium  PLL.O  gain between 0.9%
and 4%
    ** Thirteen analysts rate ALTM "buy" or "strong buy", with
one "sell" and eight "hold" - LSEG
    
  

 (Reporting by Paolo Laudani)
 ((Paolo.laudani@thomsonreuters.com))