Arcadium Lithium (ASX:LTM) received all required regulatory approvals for its acquisition by Rio Tinto Group (ASX:RIO), according to a Friday statement.
Approvals include merger control clearances and investment screening approvals in key markets such as Australia, Canada, China, Japan, South Korea, the UK, and the US, per the statement.
A court hearing to sanction the scheme of arrangement is set for March 5, and the deal is expected to close the next day.
Following completion, Arcadium's shares will be delisted from the New York Stock Exchange, and its CHESS depositary receipts will be delisted from the Australian Stock Exchange.
Shares of RIO rose nearly 2% in recent Friday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.