Lithium Giant Albemarle Nears $4.3 Billion Liontown Takeover HUGE NEWS FOR THE LITHIUM SECTOR!
Albemarle Corp. sweetened its takeover offer for
Liontown Resources Ltd. to $4.3 billion as the world’s top lithium producer stepped up efforts to expand its footprint in hard rock-based assets.
The mining giant made a best and final offer of A$3 ($1.94) per share cash for the Australian developer, Liontown said Monday.
The offer comes after a slump in lithium prices from last year’s record and a corresponding drop in share prices of lithium producers. The mining giant had offered to acquire all of Liontown’s equity at A$2.50 a share, its third bid in five months, the Perth-based company
said in March.