Rio Tinto Ltd (ASX:RIO) (LSE:RIO, ASX:RIO, OTC:RTNTF) has made a takeover offer for Arcadium Lithium, a US$3.31 billion vertically integrated lithium chemicals producer.
The FTSE 100-listed miner said its approach is non-binding for the New York Stock Exchange- and ASX-listed outfit, which has facilities and projects in UK, the US, Canada, Australia, China, Japan and Argentina.
Arcaium, which is the product of a January 2024 merger of ASX-listed Allkem Ltd and NYSE-listed Livent Corp, confirmed the approach and both companies said they would only provide further comments when there is further news to share.
As a vertically integrated company it has capabilities across lithium extraction processes, including hard-rock mining, conventional brine extraction and direct lithium extraction, and in lithium chemicals manufacturing.