Gina Rinehart’s move up the share registry at lithium takeover target Liontown Resources could put US giant Albermale in a tricky spot.
said it had accepted a $6.6 billion takeover offer from US giant Albemarle, which is based in Charlotte, in North Carolina.The brief statement released by Hancock on Monday night only added to the mystery of what Rinehart is trying to do here.
First, the execution risks that Liontown shareholders are exposed to around Kathleen Valley are essentially solved by Albemarle’s bid – the US group takes on those challenges, and local shareholders take the money and go off into the sunset. The big question is whether Albemarle, which is two weeks into a four-week period of exclusive due diligence on Liontown, will feel that it needs to make a deal with Rinehart, particularly if she isn’t in a position to block the deal.
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