Chinese firm plans rival bid for Talison Lithium

Chengdu Tianqi Industry Group (Tianqi) announced yesterday that its wholly owned subsidiary Windfield Holdings has acquired 14.99% of Talison Lithium (Perth, Australia), and intends to submit a proposal to acquire all remaining shares before Talison's shareholders meet to consider the recent $730-million takeover bid by Rockwood Holdings. Tiangi says its bid will be higher than Rockwood's C$6.50/share, but has "not yet finalised the price under any such proposal." Talison shares rose 9% yesterday, to $7.04/share. Talison, however, says it has not received any...

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