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China's Ganfeng to offer to buy Millennial Lithium for up to $280 mln

路透社 · Jul 16, 2021 07:49

Ganfeng Lithium Group -6.71% GANFENGLITHIUM -4.49%

July 16 (Reuters) - China's Ganfeng Lithium Co Ltd , one of the world's biggest lithium producers, said on Friday its board had approved an offer to buy Argentina-focused Millennial Lithium Corp for as much as C$353 million ($280 million).
The bid will be made by a Ganfeng subsidiary at C$3.60 per share, Ganfeng said in a filing to the Shenzhen Stock Exchange, or a premium of 8.4% to Vancouver-based Millennial's closing price of C$3.32 on Thursday.
($1 = 1.2589 Canadian dollars)

(Reporting by Tom Daly; editing by Jason Neely)
((tom.daly@thomsonreuters.com; +86 10 5669 2119;)

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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