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Chemical Week Magazine :: Business & Finance :: Asia/Pacific

Talison Lithium accepts revised bid from Tianqi

2:51 PM MST | December 17, 2012 | —Vincent Valk

Chengdu Tianqi Industry Group (Tianqi; Chengdu, China) has reached an agreement with Talison Lithium (Perth, Australia) to purchase Talison for C$847 million ($855 million), or C$7.50/share. The deal has the support of Talison’s board of directors, which has determined that Tianqi’s proposal is superior to Rockwood’s C$724-million offer, which had been agreed to in August. The agreement with Tianqi will likely end Rockwood’s attempt to buy Talison. Tianqi’s offer is 15% higher than Rockwood’s C$6.50/share bid and 77% higher...

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