Alpha Lithium says takeover offer not in best interest of shareholders
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Alpha Lithium (OTCPK:APHLF) said Tuesday the C$1.24/share takeover offer from Tecpetrol Investments is “opportunistic” and not in the best interests of its shareholders.
Alpha (OTCPK:APHLF) criticized the offer, which was non-binding and subject to due diligence, in part over a request to enter into a binding 30-day exclusivity agreement with Tecpetrol, which would preclude the company from engaging with interested third parties.
Tecpetrol said it would be prepared to improve its offer based on due diligence.
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