. Allkem also produces hard rock lithium in Australia and has a chemical conversion facility in Japan.Under the deal, Allkem shareholders will get one share in the combined entity for each of their shares and the company will ultimately own 56% of the new firm. Livent shareholders will get 2.406 shares in the new firm for each existing share.
Benchmark lithium prices rallied sixfold over the two years to November but have since plunged, representing an opportunity for major EV battery makers to secure supplies for the coming decade to meet surging demand from automakers switching to electric vehicles."Allkem have a lot of growth potential not clearly reflected in the current market price which could otherwise leave them vulnerable...
Australian lithium miners have been fending off takeover attempts by U.S.-based companies. In March, Liontown Resources