Talison's Chinese suitor gets regulatory nod

Fri Nov 23, 2012 8:56am EST
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Nov 23 (Reuters) - Talison Lithium Ltd said China's Chengdu Tianqi Industry Group Co has received Australian regulatory approval for its proposed takeover, two days after rival suitor Rockwood Holdings Inc said it was not interested in a bidding war.

Perth-based, Toronto-listed Talison said on Friday that it adjourned a meeting to vote on Rockwood's offer until Dec. 13.

Talison also said it was continuing discussions with Chengdu on its C$7.15 per-share offer.

Rockwood, a U.S.-based chemical producer, said late on Tuesday that Australian authorities had approved its C$724 million ($725.71 million), or C$6.50 per-share, takeover.