Alpha Lithium Corporation (OTCMKTS:APHLF) Stock On Watchlist After Recent News

On Monday, Tecpetrol Investments SI, which is a member of the Techint Group of Companies, was in focus after it made a key announcement. It announced that it had made a non-binding proposal for the purpose of acquiring all the issued and outstanding common shares of the firm Alpha Lithium Corporation (OTCMKTS:APHLF).

Tecpetrol Announces Premium All-Cash Proposal To Acquire Alpha Lithium Corporation

Alpha Lithium is a company that is listed, registered, and headquartered in Canada. Tecpetrol Investments made an offer of C$1.24 a share to Alpha Lithium. The offer had been made by the company in the form of a letter that had been submitted to the Chief Executive Officer and President of Alpha Lithium on May 15, 2023.

However, it should be noted that the offer from Tecpetrol Investments was not considered by Alpha Lithium and after discussions with its advisors it refused to engage in any discussions either.

That being said, Tecpetrol Investments noted that it was willing to come up with an improved offer if Alpha Lithium agreed to provide it with access to accelerated due diligence. If that is granted then it would be possible for Tecpetrol Investments to figure out an appropriate improvement in the offer. It may be a good idea to keep an eye on further developments.