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People & Business :: M&A
Rockwood and Talison Lithium terminate merger
2:20 PM MST | December 13, 2012 | Vincent Valk
Rockwood and Talison Lithium have agreed to terminate their merger agreement, under which Rockwood was to acquire Talison for C$724 million ($730 million), or C$6.50/share. Talison, however, accepted a rival bid for C$847 million, or C$7.50/share, from China’s Chengdu Tianqi Industry Group (Tianqi; Chengdu, China) earlier this month; Rockwood declined to match this bid. Talison will pay Rockwood a C$7-million break-up fee. Talison shareholders are expected to vote on the deal with Tianqi in late February of next year, Talison says. The deal is...
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