Talison Lithium Limited (TLH.TO) confirmed today that it has
received a non-binding, conditional proposal from Chengdu Tianqi
Industry Group Co., Ltd to acquire all of the shares of Talison
which it does not currently own at a price of $7.15 per share.
Talison is currently party to a scheme implementation agreement
with Rockwood Holdings, Inc. dated August 23, 2012 pursuant to
which Rockwood proposes to acquire all of the shares of Talison at
a price of $6.50 per share.
Talison says its board will meet in the near future but added
the company is not yet in a position to make a determination as to
whether the Tianqi proposal is a "Superior Proposal" as defined in
the Scheme Implementation Agreement, or reasonably likely to lead
to a "Superior Proposal".
Under the terms of the Scheme Implementation Agreement, Talison
is at present prohibited from discussing or negotiating the Tianqi
proposal or granting due diligence access, as contemplated in the
"In the meantime, the Scheme Implementation Agreement remains in
effect, and there can be no certainty that a transaction giving
effect to the Tianqi proposal will be pursued or implemented,"
TLH shares rose 1% to $7.14 in heavy trading of 3.36
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