Rio Tinto Group (ASX:RIO) is moving closer to completing its acquisition of Arcadium Lithium (ASX:LTM) via a scheme of arrangement after obtaining all required pre-closing regulatory approvals, according to a Monday filing with the Australian bourse.

Holders of Arcadium Lithium's CHESS Depositary Interests (CDIs) will receive $5.85 per CDI.

The sanction hearing in relation to the deal will be held on March 5. The transaction is expected to close on March 6. After that, Arcadium Lithium's shares and CDIs will be delisted from the New York Stock Exchange and the Australian Securities Exchange, respectively.

Rio Tinto's shares were up over 1% in recent Monday trade.