Lessons have been learnt from Liontown Resources’ blown takeover and funding scramble.
Only one week after Liontown Resources shareholders saw their rollicking $6.6 billion payday go up in smoke, next lithium cab off the rank Azure Minerals has gone one step further toIts friendly deal with Chilean group SQM is back-stopped by a conditions-lite takeover offer at a slightly lower price.or Chris Ellison has done at a handful of juniors – and spoils the proposed scheme of arrangement, shareholders should still be able to get their Chilean payday via an off-market takeover offer.
It is also timely given Liontown’s saga; a full-course of due diligence by SQM’s rival Albemarle, only for the suitor to flee and a mad scramble for funding. Rinehart buying a 19.9 per cent stake during the diligence period was a material factor.
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