SQM Ties up With Hancock on $1.1 Billion Bid for Australian Lithium Developer Azure

MELBOURNE (Reuters) -Chile’s SQM has teamed up with Australia’s richest person, Gina Rinehart, to make a sweetened A$1.7 billion ($1.14 billion) bid for Australian lithium developer Azure Minerals, the three parties said on Tuesday.

The A$3.70 per share offer from SQM and Rinehart’s Hancock Prospecting, already the target’s two largest shareholders, is up 5.1% from SQM’s prior solo offer of A$3.52 a share.