https://www.engineeringnews.co.za
Iron Ore|Resources
Iron Ore|Resources
iron-ore|resources

Albemarle offers to sell entire stake in Liontown after failed $4.3bn bid

17th January 2024

By: Reuters

  

Font size: - +

An Albemarle unit has put on sale its entire stake in Australia's Liontown Resources, a term sheet showed on Wednesday, after the US-based firm withdrew its proposed A$6.6-billion bid for the lithium developer.

Albemarle, the world's largest lithium producer, has offered about 96-million shares of Liontown for about A$121-million in a block trade, the term sheet showed. The shares represent about 4% of Liontown's shares on issue.

The issue price of A$1.26 to A$1.32 per share represents a discount of 7.4% to 2.9% to Liontown's last traded price of A$1.36 on Wednesday.

In October, Albemarle abandoned its bid for Liontown amid "growing complexities" after Hancock Prospecting, an iron ore miner controlled by Australia's richest person, Gina Rinehart, raised its stake in Liontown high enough to block the bid.

Edited by Reuters

Comments

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (10/05/2024)
10th May 2024 By: Martin Creamer
Magazine round up | 10 May 2024
Magazine round up | 10 May 2024
10th May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.371 0.428s - 158pq - 2rq
Subscribe Now