CA - Tecpetrol proposes to buy out Alpha Lithium for C$241M says open to improved offer
2023-05-22 16:37:59 ET
Tecpetrol Investments said Monday it sent a proposal to buy Canada's Alpha Lithium ( TSXV: ALLI:CA ) ( OTCPK:APHLF ) for C$241 million.
Tecpetrol said it made a cash offer of C$1.24 per Alpha Lithium share.
Tecpetrol sent the offer letter to buy the company to Alpha Lithium's CEO last Monday and claims Alpha Lithium refused to consider the proposal and did not engage with it following discussions between advisors.
Tecpetrol said it remains prepared to engage with Alpha immediately in good-faith negotiations and improve its offer based on due diligence.
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Tecpetrol proposes to buy out Alpha Lithium for C$241M, says open to improved offer