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Millennial Lithium Corp
Symbol ML
Shares Issued 97,861,400
Close 2021-11-02 C$ 4.77
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Globe says Lithium Americas makes bid for Millennial

2021-11-03 07:59 ET - In the News

See In the News (C-LAC) Lithium Americas Corp (2)

The Globe and Mail reports in its Wednesday, Nov. 3, edition that Lithium Americas has topped a takeover bid from a giant Chinese battery maker for Millennial Lithium. The Globe's Niall McGee writes that Lithium Americas said it will pay $4.70 (Canadian) worth of Lithium Americas stock and one-10th of a Canadian cent in cash for each Millennial share. The transaction value is $400-million (U.S.). Millennial is developing an early stage lithium brine project in Argentina called Pastos Grandes. Lithium Americas is also developing a lithium project in Argentina, but it is much further along, with a mine already in construction, and first production expected next year. Lithium Americas says, "The addition of this highly complementary lithium brine resource further enhances our long-term growth strategy in Argentina and leverages our technical and development expertise." China's Contemporary Amperex Technology, or CATL, in September tabled a $3.85 (Canadian)-a-share-cash offer for Millennial. Had its bid been successful, the deal would have had to pass a security screening from Ottawa. If the federal government suspects a foreign takeover could be a threat to Canada's national security, it can be rejected.

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