Lithium Americas completed the acquisition of Millennial Lithium for $400m.

Lithium Americas, a development-stage company focused on advancing to production a lithium brine operation, completed the acquisition of Millennial Lithium, an exploration stage mining company, for $400m. “Millennial’s board and management believe that the LAC Arrangement Agreement provides significant value to Millennial Shareholders. The high premium to the CATL Arrangement Agreement highlights the quality of the Pasto Grandes project and the efforts by the Millennial team over the past four years. Lithium Americas brings significant technical expertise and financial flexibility de-risking the development of Pastos Grandes and generating further upside for Millennial Shareholders," Farhad Abasov, Millennial President and CEO. On September 8, 2021, Contemporary Amperex Technology raised an offer to $297m. Ganfeng Lithium reported to be unlikely to match competing offer for Millennial Lithium. On September 29, 2021, Ganfeng Lithium withdrew its offer to acquire Millennial Lithium. On November 1, 2021, Lithium Americas makes $400m rival bid for Millennial Lithium. On November 17, 2021, Lithium Americas enters into definitive agreement to acquire Millennial Lithium for $400m.