Lithium Australia makes Lepidico bid

LITHIUM Australia has launched a $A23.8 million off-market takeover bid for its rival in Western Australian lithium exploration and production, and in Supreme Court action, Lepidico.

Lithium Australia makes Lepidico bid Lithium Australia makes Lepidico bid Lithium Australia makes Lepidico bid Lithium Australia makes Lepidico bid Lithium Australia makes Lepidico bid

Under the scrip deal, Lithium Australia will offer one of its shares for every 13.25 shares held in Lepidico, saying the offer valued Lepidico at a 13% premium to its 1.2c closing price on Friday.