Arcadium Lithium $6.7 billion acquisition by Rio Tinto

Davis Polk is advising Arcadium Lithium plc on its $6.7 billion acquisition by Rio Tinto Group. The transaction will be implemented by way of a Jersey scheme of arrangement and is expected to close in mid-2025, subject to the receipt of customary regulatory approvals and the satisfaction of other closing conditions.

Arcadium Lithium is a global lithium chemicals producer committed to safely and responsibly harnessing the power of lithium to improve people’s lives and accelerate the transition to a clean energy future. Arcadium is vertically integrated, with industry-leading capabilities across lithium extraction processes, including hard-rock mining, conventional brine extraction and direct lithium extraction, and in lithium chemicals manufacturing for high performance applications. Arcadium has operations around the world, with facilities and projects in Argentina, Australia, Canada, China, Japan, the United Kingdom and the United States. 

Rio Tinto is a global mining and materials company, operating in 35 countries and producing iron ore, copper, aluminum, critical minerals and other materials needed for the global energy transition and for people, communities and nations to thrive.

The Davis Polk corporate team includes partners William H. Aaronson and Cheryl Chan and associates Alex Yang and Lily Zhou. Partner Michael Kaplan is providing capital markets advice. Partner William A. Curran is providing tax advice. Partner Kyoko Takahashi Lin and associate Elizabeth Smith are providing executive compensation advice. Partner Howard Shelanski and counsel Matthew Yeowart are providing antitrust and competition advice. Members of the Davis Polk team are based in the New York, Washington DC and London offices.