Sayona-Piedmont merger forms Elevra Lithium with equal board representation
April 10 (Reuters) - The combined company following Australia-based Sayona Mining's SYA.AX deal to buy Piedmont PLL.O will be known as Elevra Lithium and its board will have four nominees from each of the two firms, the miners said on Thursday.
Lithium companies have been reeling from low prices as rapid supply growth has outpaced strong demand projections amid a slower-than-expected uptake of electric vehicles.
In November, Sayona said the all-stock deal for U.S.-based Piedmont will help to consolidate its Canadian operations and strengthen its exposure to the North American electric vehicle sector.
Analysts expect prices of the metal to remain under pressure in 2025 as well owing to an unwaveringly resilient lithium supply.
The merger is expected to be completed in mid-2025, the companies said.
Related Articles
Tempus AI: Architecting the Next Era of Intelligent Diagnostics
TradingKey - Tempus AI (TEM) is leading a tectonic transformation of how the healthcare system utilizes diagnostics, not simply ordering tests, but correlating them with patient-level data and incorporating AI to make all insight tailored to each individual.
Why Rigetti Is Positioning Itself for the Next Compute Revolution
TradingKey - Being a full-stack innovator in the race to achieve quantum advantage, Rigetti Computing (RGTI) has developed a vertically integrated superconducting quantum computing platform just when the industry is still in its early stage and undergoing tremendous growth.
Q1 2025 Market Forecast: What Bank Results Indicate About the Direction of the Stock Market
TradingKey - As the first quarter of 2025 is wrapping up, investors are piecing together a more detailed view of the next direction of the stock market.
VIX Off Its Highs — Is a U.S. Market Rebound Taking Shape?
TradingKey - The Cboe Volatility Index (VIX), widely regarded as Wall Street’s "fear gauge," has dropped sharply after briefly surging above 50 last week. It has since pulled back to the 30 range.
[Reuters Breakingviews] Trump kicks all of Asia into the China tariff boat
HONG KONG, April 3 (Reuters Breakingviews) - Donald Trump’s second trade war is a battle of one against all. Reciprocal tariffs announced on Wednesday by the White House hit China with a hike of 34 percentage points, taking the fresh levies on exports from the People’s Republic up 5...