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CATL to buy Millennial Lithium for C$377M

Millennial Lithium has entered into a definitive arrangement agreement with Contemporary Amperex Technology (CATL) under which CATL will acquire all of its outstanding shares for C$3.85 per share in cash, representing total consideration of about $377 million.

CATL to buy Millennial Lithium for C$377M CATL to buy Millennial Lithium for C$377M CATL to buy Millennial Lithium for C$377M CATL to buy Millennial Lithium for C$377M CATL to buy Millennial Lithium for C$377M

Millennial Lithium's Pastos Grandes project in Salta, Argentina

CATL beat out rival Ganfeng Lithium with its superior bid for Millennial after Ganfeng elected not to exercise its right to match the 6.9% premium CATL offered over Ganfeng's earlier $3.