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Teneo handles Philadelphia’s Arcadium Lithium, which is being acquired by mining giant Rio Tinto in a deal worth $6.7B.
The $5.85 per-share price represents a 90 percent premium over Arcadium’s trading price last week.
Arcadium owns mining operations in Argentina and Australia and processing facilities in the US, China, Japan and the UK.
Lithium is used in batteries in electric vehicles.
Rio Tinto CEO Jakob Stausholm said the deal is a big step forward in the company’s strategy of creating a world-class lithium business alongside its aluminum and copper operations to supply materials needed for the energy transition.
The transaction is expected to close by the middle of next year.
Teneo’s Katherine Kim and Mark Stokes handle Arcadium.
Longacre Square Partners represents Ancora Holdings as it urges the board of Big Yellow Group to conduct a strategic review of the UK’s No. 1 self-storage company.
Kekst CNC handles Getty Images as it begins a prepackaged Chapter 11 reorganization and receives a commitment from Koch Equity Development and the Getty family to invest $533M in the visual content company.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
