Albemarle has submitted a “best and final” bid for Australian lithium miner Liontown Resources. A deal now looks likely.
Sometimes the fourth time is a charm. Lithium-mining giant Albemarle looks like it’s close to acquiring Australian lithium miner Liontown Resources. The deal will expand Albemarle’s lithium production to help meet the world’s growing appetite for electric vehicles.
Lionstown stock is below the new proposed deal price. There are a couple of reasons why. The company still has to agree to be acquired. The deal would also close early in 2024 if approved by the company and regulators. It will take a while for investors to get cash for their shares. “We see the offer as bullish for lithium, signaling that the largest producer is keen to secure more supply at a premium, or has a bullish view on long-term price, with low jurisdictional risk,” added McCutcheon.
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