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Talison Lithium accepts bid from Tianqi, jeopardizing Rockwood deal

10:59 AM MST | December 7, 2012 | Vincent Valk

China’s Chengdu Tianqi Industry Group (Tianqi; Tianqi, 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 agreement has the support of Talison’s board of directors, which has determined the proposal is superior to Rockwood’s C$724-million offer, which was agreed to in August.   The agreement will likely end Rockwood’s attempt to buy Talison. The agreed-upon offer from Tianqi is 15% higher than Rockwood’s C$6.50/share bid, and 77%...

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