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.