Arcadium Lithium Plc $ALTM (-1,81%)a producer of lithium chemicals, announced on Wednesday that the Committee on Foreign Investment in the United States (CFIUS) has approved the proposed acquisition of Arcadium Lithium by Rio Tinto Plc $RIO (+1,77%) has been approved.
However, the transaction is subject to investment screening approvals in Australia, Canada and Italy and other customary closing conditions.
Previously, Rio Tinto and Arcadium Lithium announced an agreement that will allow Rio Tinto to acquire Arcadium for $5.85 per share, or approximately $6.7 billion in cash.