Orocobre (ORL) has received approval from the Supreme Court of Western Australia to acquire Galaxy Resources.
Galaxy holds a diversified portfolio of lithium assets in Australia, Canada and Argentina focused on fueling the electrical revolution in power generation, energy storage and transportation.
Orocobre will acquire all fully paid ordinary Galaxy shares in an all-stock deal resulting in the fifth-largest global lithium chemicals company.
The company expects the acquisition's scheme of arrangement to become effective on August 16, 2021. If this occurs, Galaxy shares will be suspended from trading on the ASX at market close.