TSX Top Trader; Talison Lithium Leads in Volume and Gains over 50% on News of Buyout
Acquisition Bullish for Lithium / Battery Stocks
Category: Investment, Mining, Renewable Energy
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New York, New York - August 23, 2012 (www,investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector for independent investors reports on the top volume trader on the TSX for Thursday August 23 rd. TALISON LITHIUM LIMITED (TSX:TLH.TO) is the top trader, with over 16 million shares changing hands as of 1:11PM EDT. The stock is trading at $ 6.48, up $2.24 or 52.83% as of 1:11PM EDT.
The stock moved on news that Chemical maker Rockwood Holdings (NYSE:ROC) is buying Talison Lithium for $732 million, paying $6.50 Canadian dollars ($6.58) per share.
Commenting on the transaction, Seifi Ghasemi, Chairman and CEO of Rockwood, "The acquisition of Talison is the logical next step in further strengthening our lithium business and enhancing our capabilities. This acquisition will enable us to better serve both our existing global customers as well as Talison's current lithium concentrate customers in China and the rest of the world."
Rockwood Holdings, Inc. is a leading global specialty chemicals and advanced materials company. Rockwood has a worldwide employee base of approximately 10,000 people and annual net sales of approximately $3.7 billion. Rockwood focuses on global niche segments of the specialty chemicals, pigments and additives and advanced materials markets. For more information on Rockwood, please visit www.rocksp.com.
Talison is a leading global producer of lithium and has been supplying a global customer network from the Greenbushes Lithium Operations in Western Australia for over 25 years. In anticipation of sustained growth in lithium consumption, Talison has doubled its production capacity at the Greenbushes Lithium Operations.
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