An update:Dec. 6, 2012) - Talison Lithium Limited ("Talison" or...

An update:

Dec. 6, 2012) - Talison Lithium Limited ("Talison" or the "Company") (TSX:TLH) announces that it has today concluded its discussions with Windfield Holdings Pty Ltd, an Australian incorporated wholly-owned subsidiary of Chengdu Tianqi Industry (Group) Co., Ltd (together "Tianqi") and reached agreement under which it is proposed that Tianqi will acquire the balance of the ordinary shares that it does not already own and options in Talison by way of schemes of arrangement for a cash consideration of C$7.50 . Up from $7.15

This values the equity of Talison at approximately C$848 million on a fully diluted basis.

Looks like Rockwood will be stepping away, as they have announced they won't be entering into a bidding war.