PMETF - Albemarle's Bold Move: Offers $4.3B For Lithium Miner Liontown Resources | Benzinga
Albemarle Corporation (NYSE: ALB) raised its bid to take over all the outstanding shares of Liontown Resources Ltd. (OTC: LINRF), a Perth, Australia-based company, for A$3.00 cash apiece.
The revised proposal values Liontown at A$6.6 billion or $4.32 billion on an equity value basis. The earlier proposal, made in March, valued Liontown at $3.4 billion on an enterprise basis (at A$2.50 per share).
Albemarle and Liontown will now enter into a mutually acceptable non-disclosure and exclusivity agreement ...