Rio Tinto Group (RIO) announced on October 9, 2024, that it will acquire Arcadium Lithium plc (ALTM) in an all-cash deal valued at $6.7 billion, positioning it as the world’s third-largest lithium producer.
Under the terms of the agreement, Rio Tinto will acquire the U.S.-based lithium producer in an all-cash transaction for $5.85 per share, representing a premium of 37.97% over the stock’s last close.