Tianqi Lithium Energy Australia Pty Ltd (TLEA), the 2021 lithium joint venture entity owned by Tianqi Lithium Corporation (TLC) (51%) and IGO (49%), has entered into an agreement to acquire 100% of Essential Metals Limited for A$0.50/share, payable in cash. The transaction represents a 36.3% premium to ESS’s 30-day VWAP.
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The Australian share market finished lower for second straight session on Friday, 11 December 2020, as uncertainties over Brexit, U. S. stimulus and geopolitical tensions with China sapped risk appetite.
At closing bell, the benchmark S&P/ASX200 dropped 40.54 points, or 0.61%, to 6,642.58. The broader All Ordinaries fell 30.78 points, or 0.44%, to 6,886.37.
Australian share market commenced trading with weak note on following a weak lead from Wall Street overnight amid disappointing economic data and slowed stimulus progress.
Denting sentiment further, British Prime Minister Boris Johnson said there was a strong possibility Britain and the European Union would fail to strike a trade deal. Near-term U.