Arcadium shareholders approve sale to Rio Tinto
Shares of Arcadium Lithium rose about 7% in extended trading after the company said that about 98% of its shareholders had voted in favor of the sale.
A total of $8.86 billion worth of M&A deals were struck in the metals and mining industry globally during the second quarter of 2020, according to the latest report from GlobalData.
This value represents an increase of 29.1% over the previous quarter and a decline of 14.4% when compared with the last four-quarter average, which stood at $10.35 billion.
Comparing deal values across different regions of the world, Asia-Pacific held the top position with total reported deals in the period worth $4.27 billion. At the country level, Canada topped the list with $2.92 billion worth of M&A deals announced.
In terms of volumes, North America emerged as the top region for M&A deals in the metals and mining industry, followed by Asia-Pacific and then Europe. The top country in terms of M&A deals activity in Q2 2020 was Canada with 151 deals, followed by Australia with 80 and the US with 42.
At the country level, Canada topped the list with $2.92 billion worth of M&A deals announced
As of quarter-end, M&A deals totalling $17.16 billion in value were announced globally, marking a decrease of 39.6% year-on-year.
The top five metals and mining M&A deals accounted for 59.2% of the overall value during Q2 2020. The combined value of these deals stood at $5.24 billion, against the overall value of $8.86 billion recorded for the period.
The top five metals and mining industry deals tracked by GlobalData were:
