Highlights

• Titan Australia Mining agreed on 22 September 2026 to buy Global Lithium outright for AU$1.15 a share in cash.
• The offer values the company at about AU$333 million, a 73% premium to its last traded price of AU$0.665.
• Titan will lend up to AU$120 million so development of the Manna Lithium Project continues during the deal process.

Shares jump on takeover news

Global Lithium (ASX: GL1) shares surged AU$0.332, or 50.000%, to AU$0.997 after the company announced on 22 September 2026 that it had agreed to be acquired. Even after the rally, the stock sits roughly 13% below the AU$1.15 offer price, a gap that reflects the time and approvals still needed before completion.

The offer

Titan Australia Mining, part of the privately held, UAE-based Titan Lithium Group, will buy all Global Lithium shares through a scheme of arrangement. Beyond the 73% premium to the 18 September close, the price is 78% above the 10-day volume-weighted average and 71% above the 30-day average.

Titan is building a vertically integrated lithium business anchored by a roughly US$2 billion refinery in Abu Dhabi, designed to produce 120,000 tonnes a year of battery-grade lithium chemicals, with first output targeted for 2027. Manna would give it a long-term Australian feedstock source.

Keeping Manna on track

To avoid delays, Titan will provide a AU$120 million bridging facility in four tranches at 7% interest, drawn to pay approved construction contracts at Manna. The later tranches become available only if the scheme has not completed by early 2027.

Board support and conditions

Global Lithium's board has backed the takeover without dissent, as long as no better bid surfaces and an independent expert judges the offer to be in investors' interests. Directors control 12.5% of the shares and intend to vote in favour. Managing Director Dr Dianmin Chen said the offer lets investors realise value in cash now, rather than carrying Manna's funding and construction risk through a volatile lithium market.

The scheme needs FIRB and ACCC clearance, court approval and a 75% shareholder vote at a meeting expected in late December 2026. The proposal does not include any financing or due diligence conditions.

Next Steps

With a firm cash price, strong board backing and funding secured for Manna in the meantime, the key remaining risks are regulatory sign-off and the independent expert's verdict. The difference between the company’s share price and the offer price is expected to decrease as the outstanding conditions are resolved.

Note- All data presented is based on information available at the time of writing.

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