Issue Date: November 19, 2012
Chinese Firm Bids For Lithium Miner
China’s Chengdu Tianqi Industry says it is working on a rival offer to acquire Talison Lithium, an Australian lithium-mining firm. This summer, Talison agreed to a $732 million takeover bid from the lithium chemicals maker Rockwood Holdings. Tianqi says it has acquired 15% of Talison’s shares and that it aims to bid for the remaining shares at a price that will top Rockwood’s offer. Talison is urging shareholders to support the Rockwood bid because it has yet to receive a firm offer from Tianqi.
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