Contemporary Amperex Technology Co. Ltd. – CATL for short -, China’s largest producer of lithium-ion batteries for automobiles and a competitor of the BYD company, takes over Millennial Lithium Corp.
A final agreement was reached on September 28, 2021. The Canadian company is being acquired as part of a cash offer for 377 million Canadian dollars.
CATL is purchasing all of the outstanding shares of Millennial Lithium at a price of $ 3.85 per common share in cash, a premium of approximately 29 percent over the average 20-day closing price of $ 2.98.
Prior to the completion of the CATL Offer, Millennial Lithium terminated its agreements and negotiations with Ganfeng Lithium Co. Ltd. and the 1314992 BC Ltd. from July 16, 2021.
– .
