Status: Upcoming/New filing
Acquirer: Lightning-A Limited (Bailiwick of Jersey)
Acquired: Livent Corporation (U.S.); Allkem Limited (Australia)
Value: $10.1 billion
Industry Tags: Mining and Extraction; Lithium
On May 10, 2023, Australian publicly traded company Allkem Limited (ASX:AKE) and U.S. publicly trade Livent Corporation (NYSE:LTHM) “announced the signing of a definitive agreement . . . to combine the two companies to create a leading global lithium chemicals producer . . .” (Press Release, Livent Corp. Form 8-K, Ex-99.1, May 10, 2023, SEC Filing.) “Livent is a global leader in lithium processing technologies . . . [and] Allkem brings complementary expertise in conventional brine-based lithium extraction, hard rock mining, and lithium processing.” (Id.) The post-transaction ownership of the new company, “Lightning-A Limited, a limited company incorporated under the Laws of the Bailiwick of Jersey,” will be held ~56% by Allkem shareholders and ~44% by Livent shareholders. (See Investment Presentation, Livent Corp. Form 8-K, Ex-99.2, May 10, 2023, SEC Filing.) CFIUS Approval is a condition of closing the transaction. (See Exhibit B, Transaction Agreement, Livent Corp. Form 8-K, Ex-99.1, May 10, 2023, SEC Filing.)
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