Bloomberg reported Chengdu Tianqi Industry Group Co. will make an offer for Talison Lithium Ltd. (TSX:TLH) to exceed Rockwood Holdings Inc.’s (NYSE:ROC) bid.

As quoted in the market news:

Chengdu Tianqi’s Windfield Holdings unit agreed to buy or has already purchased an aggregate 15 percent stake in Talison, the Chengdu, Sichuan province-based company said yesterday in a statement. Chengdu Tianqi plans to submit a proposal for the rest of the shares at a higher price than Rockwood’s bid of C$6.50 ($6.50) a share, according to the statement.

Click here to read the full Bloomberg report.