European Lithium Acquired by Critical Metals | Energy M&A Deal

Critical Metals has proposed to acquire European Lithium, a energy services other business in New York, for about US$835 million. Critical Metals acquisitions focus on critical mineral mining, while European Lithium provides exposure to rare earth development assets and related energy services. The Critical Metals acquisition is designed to strengthen rare earth supply for Western allied nations by consolidating the Tanbreez project in Greenland and supporting development toward a decision point. The merger acquisition is a strategic acquisition with an exchange ratio of 0.035 Critical Metals shares per European Lithium share, subject to a definitive agreement, and aims to reduce dilution by canceling European Lithium’s cross-holding shares while increasing public float.