Tim Goyder and the rest of the lithium aspirant’s board have confirmed they will accept $3 a share if the US giant can make its improved takeover bid binding.
Australian lithium aspirant Liontown Resources has signalled it will accept an improved $6.6 billion takeover bid from US giant Albemarle if it follows through with a binding offer at that price.
Liontown revealed on Monday that Albemarle had improved the non-binding offer it made in March to $3 a share, and that it granted Albemarle access to due diligence.Liontown said that price would be sufficient. “The intention of the Liontown board is to unanimously recommend shareholders vote in favour of the proposal in the absence of a superior proposal,” the company said in a statement.
The board’s position means major shareholder and chairman Tim Goyder, who owns 15 per cent, has decided $3 is a fair price for his stake. The improved bid by Albemarle comes after a week in which Mr Goyder’s other critical minerals market darling,Albemarle boss Kent Masters toldLiontown’s flagship asset is the Kathleen Valley lithium project, a spodumene asset near the West Australian town of Leinster.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sri Lanka set up women’s T20 international series decider after skittling EnglandSri Lanka have cantered to an eight-wicket win in the second match at Chelmsford. Join Tim de Lisle for reaction
Read more »
Housing Affordability Report reveals it’s the ‘worst time’ to enter property marketNews Corp Real Estate Content Director Tim McIntyre says the new Housing Affordability Report from PropTrack has revealed that now is the “worst time” for people trying to get into the property market.
Read more »
Migrant boom to put ‘more pressure’ on competitive Australian housing marketNews Corp Real Estate Content Director Tim McIntyre says the expected migrant boom in Australia over the next couple of years will put “more pressure” on the already competitive housing market. “We’re going to have less than we have now and we’re going to need more and more again,” Mr McIntyre told Sky News Australia.
Read more »
'Fitting tribute': UK plans for a permanent Queen Elizabeth II memorialThe UK government says an independent body will plan a permanent memorial to Queen Elizabeth II in 2026, when she would have reached her 100th birthday.
Read more »
Social media, birth plans giving parents ‘unreasonable expectations’Submissions to NSW’s landmark birth trauma inquiry reveal disagreement between those who work in the delivery room about the origins of labour distress.
Read more »
'Gift to developers': Missing rescue data casts doubts on plans to protect wildlife in NSWLeading wildlife organisations estimate about 400,000 records of rescues are missing, including about 28,000 threatened species rescues from the government's tracking database.
Read more »