Glencore, a London-listed company, has expressed interest in acquiring Li-Cycle, a Canadian lithium battery recycling company, to address operational and financial challenges. They have proposed discussions with Li-Cycle and other stakeholders regarding the potential transaction. Glencore holds debt in Li-Cycle that can be converted to approximately 84 million shares of the company. Li-Cycle modified its shareholder rights plan to allow Glencore Canada to acquire more than 20% of the company. Li-Cycle, with a market capitalization of $10.45 million, has established a special committee to review Glencore's offer. The company operates facilities in Arizona, Alabama, and Ontario, producing shredded battery parts called black mass. Their Rochester, New York facility separates lithium and other metals from the black mass, the only such facility in North America. Li-Cycle received a $475 million loan from the U.S. Department of Energy in November last year, providing crucial financial support. Glencore has not yet responded to requests for comment.