Deals
Tesla Is Considering a Bid for Battery Metals Miner
- Sigma Lithium owners said to mull selling Toronto-listed miner
- Surging stock, high price expectations may discourage suitors
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Sigma Lithium Corp. soared in Canadian trading on Tuesday on news that Tesla Inc. has been weighing a takeover of the battery-metals miner amid rampant demand for the materials needed to power electric vehicles.
The company’s shares rose as much as 22%, their biggest intraday jump since May 2021. The stock was up 16% at 9:47 a.m. in Toronto, giving the company a market value of C$4.8 billion ($3.6 billion).