LINRF - Albemarle Backs Out Of Acquisition Offer For Australia's Liontown Resources | Benzinga
Mining giant Albemarle Corporation (NYSE: ALB) said it will not pursue a binding agreement to purchase Liontown Resources Ltd. (OTC: LINRF) and has withdrawn its non-binding offer to Liontown's Board of Directors.
Liontown Resources is a battery minerals producer based in Australia and owns one of the world's richest lithium deposits, essential for manufacturing electric vehicles and smartphones.
The decision comes as Albemarle nears the end of its exclusive due diligence process.
Albemarle ...