An Arcadium Lithium shareholder has come out swinging following reports that Rio Tinto is in talks to acquire the dual-listed global lithium miner for between $US4 billion ($5.88 billion) and $US6 billion, describing the suggested price as “highly opportunistic”.
In a letter to Arcadium’s board in Philadelphia, Blackwattle Investment Partners’ portfolio managers Tim Riordan and Michael Teran urged the company to reject any bid that doesn’t sit around the $US8 billion mark, noting a sharp decline in the share price on the back of the lithium price crash.
Loading...
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
