Western Australia Supreme Court Clears Critical Metals' European Lithium Takeover
CRML sits 24% above its 52-week low of $5.115.
Summary
The Supreme Court of Western Australia approved Critical Metals' acquisition of European Lithium, clearing the last major judicial hurdle for the all-stock scheme. This follows the September ruling that allowed the shareholder vote and the October 21 terms under which Critical Metals issues 0.045 of its own shares for each European Lithium share. The deal has been reshaped along the way: an August amendment replaced the fixed exchange ratio with a floating one, and an October 6-K terminated earnout share obligations to European Lithium. Completion now hinges on the remaining scheme conditions being satisfied. The company's FY2026 annual report flagged going concern doubt and four material weaknesses in internal controls, so integrating European Lithium and funding Tanbreez — whose mining and closure plans Greenland approved on October 5 — remains the real test.
At the time of this announcement, CRML was trading at $6.33 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $934.9M. The 52-week trading range was $5.12 to $21.86. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.