Global Lithium Resources has agreed a takeover bid by Titan Australia Mining through a binding scheme implementation deed which will see Titan acquire 100 per cent of the company for approximately $333 million.
Under the proposed binding scheme of implementation, Global Lithium shareholders will receive $1.15 in cash for each share held, representing a premium of more than 70 per cent to recent trading prices.
Global Lithium said the cash offer provides shareholders with immediate value while removing exposure to the funding requirements and development risks associated with the Manna lithium project during a period of continued lithium market volatility.
Titan is part of Titan Lithium, a United Arab Emirates-based critical minerals group developing an integrated lithium business spanning resources, refining and battery materials.
Titan’s cornerstone asset is a lithium refinery in Abu Dhabi, representing an investment of about $US2 billion ($2.8 billion) and designed to produce 120,000 tonnes per annum of battery-grade lithium carbonate and lithium hydroxide across two phases, with first production targeted for 2027.
Global Lithium managing director Dianmin Chen said the transaction recognised the value of the Manna Lithium Project while providing shareholders with certainty.
“We are excited to announce the Scheme with Titan, under which Global Lithium shareholders will receive compelling value for your Global Lithium shares,” Chen said.
“In our view, the offer fairly recognises the value and quality of the Manna lithium project and the work our team has done to advance the project, and allows shareholders to realise that value in cash today.”
As part of the transaction, Titan Lithium Group will provide Global Lithium with a funding facility of up to $120 million to allow development of the Manna lithium project to continue during the scheme process.
Global Lithium said the funding would ensure development activities continue without interruption while the transaction progresses.
Titan Lithium Group founder Vaibhav Jain said the acquisition would support the group’s strategy of building an integrated lithium business.
“The Manna Lithium Project is a high-quality asset developed by a capable team, and Australia is home to some of the best lithium resources in the world and a stable and welcoming destination for foreign investment,” Jain said.
The Global Lithium board has unanimously recommended shareholders vote in favour of the scheme, subject to an independent expert concluding the transaction is in the best interests of shareholders and no superior proposal emerging.
Global Lithium directors, who collectively hold approximately 12.5 per cent of the company’s shares, intend to vote in favour of the scheme subject to the same conditions.
The transaction remains subject to shareholder approval, regulatory approvals including Foreign Investment Review Board and Australian Competition and Consumer Commission approvals, court approval and other customary conditions.
A scheme meeting is expected to be held in late December 2026, with implementation targeted for January 2027 if all conditions are satisfied.