RIO Stock Recent News

Mining giant Rio Tinto has announced a definitive agreement to acquire the American lithium company, Arcadium Lithium, through an all-cash transaction valued at $6.7 billion. Rio Tinto will purchase Arcadium Lithium at a price of $5.85 per share, representing a 90% premium over Arcadium's closing price of $3.08 on October 4th.

Rio Tinto said on Wednesday that it will acquire Arcadium Lithium in an all-cash transaction, valuing the latter at $6.7 billion.

RIO shares are undervalued compared to competitors, offering a compelling buy opportunity, especially with potential price declines post earnings on Oct. 15. Despite a 10.8% share price drop in 2024, RIO remains a leading mining company with diverse capabilities and a strong market position. RIO's potential acquisition of a lithium producer at low prices could be highly accretive if lithium prices recover, enhancing its market position.

Arcadium Lithium (ALTM, Financial) witnessed a notable surge in its stock price today, experiencing a 34.25% increase, landing at $4.135. This significant movement follows the news of a potential buyout offer from mining giant Rio Tinto Group, heightening investor interest.

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important?

Following speculation on October 5th that Rio Tinto (RIO, Financial) was considering acquisition of two lithium producers; Albemarle (ALB, Financial) and Arcadium Lithium (ALTM, Financial), Arcadium Lithium confirmed receiving a non-binding approach from Rio Tinto on October 6th. However, as PRNewswire conveyed, Arcadium emphasized that there are no further official comments until there is news to share.

Metals and mining company Rio Tinto is looking to move into lithium as it gears up for the green energy transition.

Rio Tinto Ltd (LSE:RIO, ASX:RIO, OTC:RTNTF) has made a takeover offer for Arcadium Lithium, a US$3.31 billion vertically integrated lithium chemicals producer. The FTSE 100-listed miner said its approach is non-binding for the New York Stock Exchange- and ASX-listed outfit, which  Arcaium confirmed the approach and both companies said they would only provide further comments when there is further news to share.

Global mining giant Rio Tinto PLC has expressed interest in buying Arcadium Lithium PLC, both companies confirmed Sunday.

Lithium miner Arcadium on Sunday confirmed that global mining giant Rio Tinto, has approached it regarding a potential acquisition.