Arcadium Lithium Enters Into Agreement with Rio Tinto Subsidiaries, Aiming for Acquisition

On October 9, 2024, Arcadium Lithium plc, a company incorporated under the laws of the Bailiwick of Jersey, revealed its entry into a Transaction Agreement with Rio Tinto Western Holdings Limited and Rio Tinto BM Subsidiary Limited. The agreement sets forth a scheme of arrangement where all outstanding ordinary shares of Arcadium Lithium will be transferred to Rio Tinto or its designated affiliate in exchange for $5.85 per share in cash.

The Transaction Agreement stipulates the treatment of outstanding equity awards following the completion of the transaction, including the exchange of restricted stock units and stock options for shares of Rio Tinto plc or Rio Tinto Limited. The completion of this transaction, subject to customary closing conditions, is expected to occur in mid-2025.

In the event of termination of the agreement, a $200 million fee would be payable by Arcadium to Rio Tinto under certain circumstances. This termination fee provision aims to safeguard the agreement between the parties.

The disclosure of the Transaction Agreement aims to inform investors and shareholders of the terms of the proposed Transaction, focusing on the consideration and treatment of equity awards. It is essential to note that the information provided in the Agreement is intended for transactional purposes and does not serve as a comprehensive representation of the companies involved.

Individuals holding shares in Arcadium should anticipate further details regarding the transaction through the Proxy Statement that Arcadium plans to file with the Securities and Exchange Commission. This statement will provide crucial information for shareholders in making informed decisions related to the Transaction.

Arcadium, along with Rio Tinto and relevant executives, may be involved in soliciting proxies from shareholders to facilitate the Transaction. Shareholders are encouraged to review all relevant documents filed with the SEC, including the Proxy Statement, to gain a comprehensive understanding of the Transaction.

As is common with forward-looking statements, uncertainties and risks may influence the success and timing of the Transaction. These factors could impact the completion of the deal and subsequently affect Arcadium’s operations and financial standing. Shareholders and investors should carefully consider the risks associated with the Transaction and consult the Proxy Statement for a detailed analysis of potential risks and uncertainties.

Arcadium has emphasized that the Transaction remains subject to various conditions, and the company will update shareholders as needed regarding any developments in the process.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Arcadium Lithium’s 8K filing here.

Arcadium Lithium Company Profile

Arcadium Lithium plc engages in the production of lithium chemicals products in the Asia Pacific, North America, Europe, the Middle East, Africa, and Latin America. It offers battery-grade lithium hydroxide, lithium carbonate, butyllithium and high purity lithium metal for electric vehicles, electronics, agricultural, industrial, greases, polymers, pharmaceutical, battery, and aerospace applications.