Lithium Americas beats CATL to acquire Millennial Lithium for $400mln

Canada-headquartered Lithium Americas has entered into a definitive arrangement agreement with Argentina-based producer Millennial Lithium to acquire all of the outstanding shares of the latter for approximately $400 million, the company said on Wednesday November 17.

On November 1, Millennial Lithium announced that it had received a rival takeover bid from Lithium Americas. As such, Millennial Lithium terminated an arrangement agreement with Chinese battery maker Contemporary Amperex Technology Co Ltd (CATL).

On September 28, Millennial Lithium said CATL would acquire all outstanding of its shares for some C$377 million...

Published

Susan Zou

November 18, 2021

03:27 GMT

Shanghai