OROCF - Orocobre Galaxy to merge in $3.1B deal creating Australian lithium player

Orocobre (OROCF) agrees to acquire Australian lithium mining peer Galaxy Resources (GALXF) in an all-stock deal that will create the world's fifth largest global lithium chemicals company.Based on the companies’ closing share prices on Friday, the combined company would have a market value of A$3.96B (US$3.06B).Orocobre will acquire all shares in Galaxy, whose shareholders will receive 0.569 Orocobre shares for each of their own stock; Orocobre shareholders will own ~54% of the combined company and Galaxy shareholders will own the remaining 46%.Orocobre CEO Martin Perez de Solay will head the combined group, and Galaxy Chairman Martin Rowley will become non-executive chairman of the new company.

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Orocobre, Galaxy to merge in $3.1B deal creating Australian lithium player