Albemarle offers Liontown a sweeter $4.3 billion buyout.

(Reuters) – Australia’s Liontown ⁣Resources has received a revised takeover offer from Albemarle Corp, and ‍it’s causing quite a stir. The offer‌ values ​the ​company at a whopping A$6.6 billion ($4.26 billion), ​with ‌a new price of ​A$3 per⁣ share. This is a significant ‍increase from the A$2.50 offer Liontown received‌ back⁤ in March.

Liontown’s board has decided to grant Albemarle,‍ the world’s largest‌ lithium producer, a limited period of exclusive ⁣due ⁣diligence. This is⁤ a⁣ significant ⁤move for Liontown, as ​they had previously rejected an approach from ⁢Albemarle that valued the company at A$5.50 billion.

Albemarle’s previous offers to Liontown were A$2.20 per share in October 2020 and A$2.35 per share in⁢ March 2021.

($1‍ = 1.5504 Australian dollars)

(Reporting by Poonam Behura; Editing by Kim Coghill and Christian Schmollinger)

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