Join the battle for lithium resources in Ningde era? Online rumors will bid for Canadian lithium company for C $377 million.

Ningde Times (300750) plans to pay 377 million Canadian dollars (US $298 million) to bid for Canadian lithium company Millennial, to ensure a stable supply of lithium resources, it was reported online on September 15. It is reported that the offer is about 7% higher than Ganfeng Lithium's previous proposed offer.

Data show that Millennial is a listed company in Toronto, Canada, mainly engaged in the acquisition, exploration and development of lithium mining rights. The company's main assets are the Pastos Grandes Lithium Salt Lake Project in Salta Province, Argentina, and the Cauchari East Lithium Salt Lake Project in Jujuy Province, Argentina.

In July this year, Ganfeng Lithium (002460) announced that in order to expand the company's business and enhance its core competitiveness, the company intends to offer to acquire no more than 100% stake in Canadian lithium company Millennial at a price of C $3.60 per share, with a transaction value of no more than C $353 million, which is also intended to go straight to the Salt Lake project in Argentina.

But on Sept. 8, Millennial, a Canadian lithium company, announced that it had received a non-binding unsolicited offer from a foreign lithium battery manufacturer at C $3.85 a share, without mentioning the details of the company.

In this regard, people familiar with the matter said that Ningde era is the buyer behind the proposed bid for Canadian lithium company Millennial.

According to a number of media reports, Luoyang Molybdenum Industry (603993) is also considering to participate in the bid for Canadian lithium company Millennial.

In addition, Ganfeng lithium industry also said that although the Canadian lithium company Millennial has the intention to increase the price, but the company will not give up the acquisition, the specific situation depends on the follow-up negotiations.