Arcadium Lithium (NYSE: ALTM) Enters Transaction Agreement with Rio Tinto

On October 9, 2024, Arcadium Lithium plc revealed a significant move as it announced the signing of a Transaction Agreement with Rio Tinto. This agreement, dated the same day, involves Arcadium, Rio Tinto Western Holdings Limited, and Rio Tinto BM Subsidiary Limited. The core of the agreement is the planned transfer of all outstanding ordinary shares, valued at $1.00 per share, from Arcadium’s shareholders to Rio Tinto or its designated Affiliate in exchange for a cash sum of $5.85 per Company Share. This transaction is set to occur under a scheme of arrangement pursuant to the Companies (Jersey) Law 1991.

The company disclosed this information in a joint press release issued on that day, emphasizing that all conditions outlined in the agreement need to be met or waived. The completion of this transaction structure will usher in substantial changes for Arcadium Lithium and its shareholders.

It is essential to note that the details of this transaction have been unveiled to inform stakeholders. While these disclosures are significant, the company clarified that this information is being furnished and does not fall under the category of a filed document under the Securities Exchange Act of 1934.

In preparation for this transaction, Arcadium intends to submit a proxy statement on Schedule 14A with the United States Securities and Exchange Commission (SEC). Shareholders are encouraged to delve into all relevant documents associated with this process, including amendments and supplements, to grasp crucial insights.

Moreover, to facilitate transparency and accessibility, Arcadium will make the Proxy Statement and related documents available to its shareholders free of charge through the SEC’s online platform. Additionally, interested parties can access these documents via Arcadium’s website.

As part of this revelation, Arcadium underscored that key individuals from Arcadium and Rio Tinto may be involved in the solicitation of proxies from Arcadium’s shareholders linked to this significant transaction. Pertinent information regarding these individuals, including their holdings, will be available in the Proxy Statement and allied materials, ensuring clarity and accountability.

Lastly, in accordance with compliance regulations, the company outlined forward-looking statements clarifying potential risks, uncertainties, and impacts arising from this transaction and associated events. These statements indicate the company’s attentiveness to varied outcomes while maintaining an informative stance for all stakeholders.

This Article contains forward-looking statements that are subject to risks and uncertainties, usually associated with events contingent on future circumstances, the closures of transactions, and attendant benefits. Such statements could result in actual outcomes differing from the detailed forward-looking projections.

For reference, the Joint Press Release dated October 9, 2024, and other associated financial materials are attached as Exhibits to the official filing.

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.