Date Announced

October 9, 2024

Lead Office

Toronto

Value

6.70 Billion USD

On October 9, 2024, Rio Tinto announced a definitive agreement to acquire Arcadium Lithium ("Arcadium") for US$6.7 billion in an all cash transaction at US$5.85 per share.

The deal will make Rio Tinto the third largest miner of metal used in electric vehicle batteries in the world.

Arcadium is a global lithium producer with operations in Argentina, Australia, Canada, China, Japan, the United Kingdom and the United States.

Rio Tinto, headquartered in London, England and Melbourne, Australia, is the world's second largest metals and mining corporation.

McCarthy Tétrault is advising Rio Tinto with a team led by Shea Small that includes Dominique Amyot-Bilodeau, Samantha Pettinato (Business), Jason Gudofsky, Casey Halladay, Erin Keogh and Alykhan Rahim (Competition & Antitrust).