Shares of lithium producer, Arcadium Lithium plc (ALTM) were surging more than 30 percent in pre-market on Wednesday following the news that it is being acquired by mining major Rio Tinto in an all-cash transaction valued at $6.7 billion or $5.85 per share.
The Transaction represents a premium of 90 percent to Arcadium's closing price of $3.08 per share on October 4, 2024.
The deal is expected to close in mid-2025.
Arcadium Lithium stock had closed at $4.24, up 1.68 percent on Tuesday. It has traded in the range of $2.1900 - $7.8803 in the last 1 year.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.