After Ganfeng lithium industry, Ningde era was also "eaten" American lithium industry 400 million US dollars won the millennium lithium industry!

SMM, Nov. 18, yesterday, Canadian Millennium Lithium and American Lithium (Lithium Americas) jointly announced that they had signed a final acquisition agreement on November 17, 2021, and American Lithium acquired all shares in Millennial with a total consideration of about $400m. According to LAC's closing price on November 16, 2021, this drop in consideration resulted in Millennial shareholders owning about 9.1% of LAC's shares.

This incident also means that the dispute over the acquisition of the Millennium Lithium Industry, which has lasted for nearly four months, has finally come to an end. The victory of the American lithium industry also shows that the Ningde era, which was originally in a competitive situation, abandoned the acquisition of Millennium Lithium. According to the latest takeover offer between American Lithium and Millennium Lithium, Millennium Lithium cancels its contract with Ningde era, and American Lithium is required to compensate Ningde era for a contract termination fee of $20 million. At present, the compensation fee has been reimbursed.

It is worth mentioning that there have been many dramatic "reversals" in the acquisition battle of Millennium Lithium Industry in these four months. The incident dates back to July this year, when Ganfeng Lithium made a bid for Millennium Lithium with an offer of about C $353 million. But in September, it was cut off by Ningde Times with a pure cash offer of C $377 million. In the end, Ganfeng Lithium chose to withdraw from the bid and received a $10 million contract termination fee.

Now, in the Ningde era of Ganfeng lithium industry, "Guanhu" has not been able to escape the fate of being "cut off Hu" again by others. On November 1, Millennium Lithium announced that it had received a higher offer from American Lithium than from the Ningde era. American Lithium, which is also listed on the Toronto Stock Exchange, has submitted an offer equivalent to C $4.7 per share, which will be paid in the form of common shares and C $0.01 per share in cash. The latest offer is C $0.85 per share, or 22.1 per cent, compared with the C $377 million pure cash deal reached in September between low Millennium Lithium and the Ningde era.

It is worth mentioning that as soon as the news came out, considering that Ganfeng Lithium Industry held 12.5% of the shares of American Lithium Industry, there were a lot of rumors in the market that Ganfeng Lithium Industry "instructed" American Lithium Industry to make a takeover offer for Millennium Lithium Industry. In response, Ganfeng Lithium Industry solemnly said that due to competition in the same industry and the confidentiality terms signed with Millennium Lithium Industry, Ganfeng Lithium was not actually involved in the Inter-American Lithium Board's bid for Millennium Lithium. This quelled the rumors in the market that Ganfeng lithium industry was not reconciled to being "cut off Hu" in the Ningde era.

In the same situation as Ganfeng Lithium Industry before, Ningde Times also has the right to make a higher bid within 10 working days, which will last until 16:30 p.m. on November 16 at the latest. According to the public statements of American Lithium and Millennium Lithium, Ningde era obviously gave up the right to bid for this price increase.

It is reported that the deal between American Lithium and Millennium Lithium is expected to be completed in January 2022. Upon completion of the transaction, Millennial shares and warrants are expected to be delisted from the TSX gem at the same time. Since then, the battle for the millennium lithium industry has been settled.