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Canada-based Alpha Lithium on Friday confirmed that it had received an unsolicited takeover bid from TechEnergy Lithium Canada – a new subsidiary of Spanish firm Tecpetrol Investments – and urged shareholders not to take any action.
The company stated that its board and special committee of independent directors would review the Tecpetrol offer and related takeover circular within the next 15 days. ....
Tecpetrol Investments on Thursday formally initiated its previously announced all-cash offer to acquire Canada-headquartered Alpha Ltihium.
The notice and advertisement of the offer, which Tecpetrol took directly to Alpha shareholders, appeared in local newspapers, while the takeover bid circular and related documents have been filed with the Canadian securities regulators on Sedar. ....