ARCADIUM LITHIUM PLC Stock Price, News & Analysis

Rio Tinto has completed its $6.7 billion acquisition of Arcadium Lithium (NYSE: ALTM), which will be renamed to Rio Tinto Lithium. The acquisition positions Rio Tinto as a global leader in energy transition materials and major lithium producer.

The new lithium division aims to expand capacity to over 200,000 tonnes per year of lithium carbonate equivalent (LCE) by 2028. The merger combines Rio Tinto's operational expertise and financial strength with Arcadium's Tier 1 assets and technical capabilities.

Arcadium Lithium shareholders will receive $5.85 cash per share. The acquisition will be funded through a bridge loan facility, to be replaced with long-term debt financing. Following the transaction completion, Arcadium Lithium's shares will be delisted from both NYSE and ASX.

Entegris (NASD: ENTG) is set to be added to the S&P MidCap 400 index, replacing Arcadium Lithium plc (NYSE: ALTM). The change will take effect prior to market opening on Thursday, March 6, 2025. This index modification comes as Rio Tinto plc (ASX: RIO) is finalizing its acquisition of Arcadium Lithium, pending final closing conditions.

Arcadium Lithium (NYSE: ALTM) reported its Q4 and full-year 2024 results, with Q4 revenue at $289.0 million and a reported GAAP net loss of $14.2 million. Q4 Adjusted EBITDA reached $73.7 million, driven by higher volumes across lithium products and reduced costs, despite lower pricing.

Fourth quarter volumes increased 56% on an LCE basis versus Q3. Average pricing was $15,700 per metric ton for combined lithium hydroxide and carbonate, down from $16,200 in Q3. Full-year 2024 results showed revenue of $1,007.8 million, with net income of $103.2 million.

The company's pending acquisition by Rio Tinto for $5.85 per share, announced October 9, 2024, has received all required pre-closing regulatory approvals. The transaction is targeted to close on March 6, 2025, subject to Court Order by the Royal Court of Jersey and other conditions.

Arcadium Lithium (NYSE: ALTM, ASX: LTM) has secured all necessary pre-closing regulatory approvals for its acquisition by Rio Tinto, as announced on October 9, 2024. The approvals include merger control clearance from Australia, Canada, China, Japan, South Korea, the United Kingdom, and the United States, along with investment screening approvals from various jurisdictions.

The Royal Court of Jersey will hold a sanction hearing on March 5, 2025, at 5:00 a.m. EST to review the scheme of arrangement, with the transaction expected to close on March 6, 2025. Shareholders can attend the hearing in person or through a Jersey advocate, and may submit written statements for consideration. Following the transaction's completion, Arcadium's shares and CHESS Depositary Receipts will be delisted from the NYSE and ASX respectively.

Arcadium Lithium (NYSE: ALTM, ASX: LTM) has announced it will release its fourth quarter and full year 2024 earnings results on Thursday, February 27, 2025, after market close. The results will be available through PR Newswire and the company's investor relations website. Due to the pending acquisition by Rio Tinto, the company will not hold an earnings conference call for the fourth quarter financial results, which is standard practice during such transactions.

Arcadium Lithium (NYSE: ALTM) announced that the Committee on Foreign Investment in the United States (CFIUS) has cleared its proposed acquisition by Rio Tinto, finding no unresolved national security concerns. The deal, initially announced on October 9, 2024, has already received merger control clearance in multiple jurisdictions including Australia, Canada, China, Japan, South Korea, the United Kingdom, and the United States. Investment screening approval has been obtained in the UK.

The transaction still requires investment screening approvals in Australia, Canada, and Italy, along with other customary closing conditions. Arcadium Lithium anticipates the proposed transaction will close before mid-2025.

Arcadium Lithium (NYSE: ALTM) announced shareholder approval for its proposed acquisition by Rio Tinto, initially revealed on October 9, 2024. The company has secured merger control clearance in Australia, Canada, China, the United Kingdom, and the United States, along with investment screening approval in the UK. CEO Paul Graves emphasized that the merger will strengthen their position as a global lithium chemicals producer and enhance their operational capabilities. The transaction is expected to close in mid-2025, pending remaining regulatory approvals and closing conditions.

Arcadium Lithium (NYSE: ALTM, ASX: LTM) reported its Q3 2024 results. Revenue was $203.1 million, with a GAAP net income of $16.1 million or 1 cent per diluted share. Adjusted EBITDA stood at $42.9 million. A decline in average realized prices and volumes, along with higher costs, impacted earnings. Average pricing for combined lithium hydroxide and carbonate was $16,200 per metric ton, down from $17,200 in Q2. Total volumes were 6% lower due to weaker demand and slow production ramp-up in Argentina.

The company has withdrawn its operating and financial guidance due to its pending acquisition by Rio Tinto, announced on October 9, 2024. The transaction values Arcadium at $6.7 billion, representing a 90% premium to its share price on October 4, 2024. Key conditions include shareholder approval and regulatory consent. The transaction is expected to close in mid-2025.

Arcadium Lithium (NYSE: ALTM, ASX: LTM) has scheduled its third quarter 2024 earnings release for Thursday, November 7, 2024, after market close. The results will be available through PR Newswire and the company's investor relations website. Due to the pending acquisition by Rio Tinto, the company will not conduct an earnings conference call for this quarter, which is standard practice during such transactions.