Rockwood Receives All Regulatory Approvals to Complete Talison Acquisition
Rockwood Holdings (NYSE: ROC), a global producer of specialty chemicals and advanced materials, today announced that the government of Australia's Foreign Investment Review Board has given its approval for the acquisition of Talison Lithium Limited (TXS: TLH) by Rockwood.
In making the announcement, Rockwood's Seifi Ghasemi, Chairman and Chief Executive Officer, said, “With this approval, Rockwood has obtained all regulatory approvals and is therefore prepared to close the acquisition of Talison as planned in mid-December. We are aware of the so-called competing bid by another party. Rockwood has no intention of engaging in a bidding process for the acquisition of Talison.
“The C$6.50 Canadian per share that we presented to Talison is our best and final offer. We are confident that the Talison shareholders, when they meet on November 29, will vote in favor of our proposal, which provides deal certainty for the Talison shareholders. Rockwood has the cash in hand for the acquisition, and now it also has all regulatory approvals. A vote against the deal would be a lost opportunity for the Talison shareholders and could leave them without any transaction. ”
Rockwood Holdings, Inc. is a leading global specialty chemicals and advanced materials company. Rockwood has a worldwide employee base of approximately 10,300 people and annual net sales of approximately $3.7 billion. Rockwood focuses on global niche segments of the specialty chemicals, pigments and additives and advanced materials markets. For more information on Rockwood, please visit www.rocksp.com.
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