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Chinese firm plans rival bid for Talison Lithium

6:23 AM MST | November 16, 2012

Supply Scramble: China's lithium reserves are limited. Chengdu Tianqi Industry Group (Tianqi) 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 finalized the price.” Talison issued a statement saying that “in the absence of a superior proposal,” its board unanimously...

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