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.
Rio Tinto/Arcadium: Home Straight After CFIUS Nod
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