$853M Bid Gives China's Tianqi World's Biggest Lithium Miner

Law360, New York (December 6, 2012, 4:04 PM EST) -- The world's largest lithium miner, Talison Lithium Ltd., on Thursday gave its blessing to a sweetened CA$847 million (US$853 million) takeover offer from China's Chengdu Tianqi Industry Group Co., outmuscling rival bidder Rockwood Holdings Inc.

Under the terms, shareholders in Australia's Talison will receive CA$7.50 per share, a 77 percent premium over the company's close on the August day before any buyer interest in the company was made public.

The winning bid comes after Rockwood and the Chinese conglomerate tangoed for control over the miner, beginning...
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