Orocobre, Galaxy to merge, creating world’s 5th-largest lithium chemical company
Published: Monday, 19 April 2021
Australian lithium miners Galaxy Resources and Orocobre have entered into a binding merger implementation deed that will see the latter acquire 100% of the fully paid ordinary shares in the former, the companies announced on Monday April 19.
The A$4 billion ($3.1 billion) merger will create the
world’s fifth-largest lithium chemicals company,
according to the announcement.
Under the agreement, Galaxy shareholders would receive 0.569
Orocobre shares for each Galaxy share, the companies said.
Orocobre shareholders will ultimately own 54.2% of the...