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Lithium Americas has made an unsolicited US$400 million largely stock offer to buy Millennial Lithium, with its C$4.70 per share offer providing a 22.1% premium over the $3.85 per share cash offer of $377 million made by Contemporary Amperex Technology (CATL) in late September.
Lithium Americas' Cauchari-Olaroz project in Jujuy, Argentina
Although Millennial entered into a definitive agreement with CATL, its board determined the Lithium Americas a superior proposal giving CATL 10 days to match it.
CATL did not match premium bid
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