MinRes backs Develop's move into lithium

摘要

BILL Beament’s Develop has entered into a binding agreement to acquire lithium developer Essential Metals in a deal worth about A$152.6 million.Essential has agreed to a scrip takeover of one Develop share for every 6.18 Essential shares held. Based on Friday's closing prices, the deal values Essential at 56c per share, a 34.9 premium.