Lithium americas to acquire arena minerals to consolidate the highly prospective pastos grandes basin
Vancouver, british columbia, dec. 20, 2022 (globe newswire) -- lithium americas corp. (tsx: lac) (nyse: lac) ("lithium americas" or the "company") and arena minerals inc. (tsx-v: an) (“arena”) are pleased to announce that they have entered into a definitive arrangement agreement (the “arrangement agreement”) pursuant to which lithium americas has agreed to acquire all of the issued and outstanding common shares of arena not already owned by lithium americas (each, an “arena share”) by way of a plan of arrangement (the “transaction”). pursuant to the arrangement agreement, arena's shareholders (“arena shareholders”) will receive 0.0226 (the “exchange ratio”) of a lithium americas common share (a “lac share”) for each arena share held (the "consideration"). the consideration to arena implies a total equity transaction value (on a 100% basis) of us$227 million (c$311 million), based on the closing price on december 19, 2022, which would result in arena shareholders owning approximately 5.7% of lithium americas.
LAC Ratings Summary
LAC Quant Ranking
You've reached your free article limit.
Want To Read More Articles?
See what it all means for your stocks with premium tools
Stockprices is a weekly video covering what moved markets
this week, featuring a panel of Stockprices editors. It is published by the
close of trading on Fridays. Hosted by Nathaniel E. Baker, contributing editor,
and featuring: Aaron Task, VP Contributor Content and co-host Stockprices's Alpha
Trader podcast; Brad Olesen, VP News; Steve Alpher, Managing Editor News, co-host
Alpha Trader.
Unsubscribe From All
You successfully activated
“Only Essentials”
Confirm Upgrade
Your subscription will be moved to the annual plan. Service will automatically renew unless cancelled. No Refunds. Click upgrade to confirm.
Stockprices uses Plaid to connect you account
Connect effortlessly
Plaid lets you securely connect your financial accounts in seconds
Your data belongs to you
Plaid doesn't sell personal info, and will only use it with your permission