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;)
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;)