MLNLF - Lithium Americas offers to buy Millennial Lithium for ~$400M

Lithium Americas (NYSE:LAC) +2.8% pre-market after submitting an offer to Millennial Lithium (OTCQX:MLNLF) to acquire the company in an all-stock deal for C$4.70/share, or ~US$400M. Millennial says it has notified suitor CATL that it considers the Lithium Americas offer a superior proposal. Lithium Americas says Millennial's Pastos Grandes lithium brine project in Argentina, near its own Caucharí-Olaroz project, represents an attractive regional growth opportunity. "The addition of a complementary and advanced stage resource significantly expands Lithium Americas’ growth pipeline in Argentina, without distracting management from existing operations," the company says.

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Lithium Americas offers to buy Millennial Lithium for ~$400M