Reports indicate that Rio Tinto is engaged in negotiations to acquire lithium mining company Arcadium. Sources familiar with the matter suggest that discussions are ongoing and continued during the recent LME week meetings. A bid is expected soon, although a deal is not guaranteed.
Arcadium is reportedly valued between $4 billion and $6 billion, potentially higher. The company has enlisted two investment banks to facilitate negotiations with Rio Tinto. Neither Arcadium nor Rio Tinto has commented on the matter. Arcadium's stock saw a significant jump, increasing by over 40% in after-hours trading.
