Rio Tinto/Arcadium: Home Straight After CFIUS Nod
Arcadium Lithium (LTM AU)'s spread to Rio Tinto Ltd (RIO AU)'s terms steadily increased subsequent to the US elections, ostensibly over Trump (Musk?) bluster, blowing out to 21% before Xmas.
Overnight, the transaction received the go ahead from CFIUS. Shares popped ~8.2% on the news. The transaction remains subject to investment screening approvals in Australia, Canada and Italy.
Unlike Greenland and the Panama Canal, the takeover of Arcadium should complete "before mid-2025"; possibly this quarter.
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