Does allkem own Livent?

(Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images) Allkem, one of Australia’s biggest lithium producers, has purchased a controlling stake in lithium manufacturer Livent Corp. The deal, an all-stock merger with no cash involved, sees Allkem take a 56% stake in the US lithium firm.

Did allkem & Livent merge?

A merger of equals between Australian lithium producer Allkem and US chemicals giant Livent has been concluded. The merged entity, reportedly valued at $10.6bn, is called Arcadium Lithium. Last month, Reuters reported that Allkem shareholders cleared the merger, with 90% of the overall votes in favour of the deal.

Where is Livent based?

The company has its manufacturing and sales operations in the US, China, Argentina, the UK, Korea, Japan and Singapore. Livent is headquartered in Philadelphia, Pennsylvania, the US. History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.

How many ordinary shares have Livent shareholders been allocated?

Livent shareholders have been allocated 2.406 Arcadium Lithium NYSE-listed ordinary shares for each Livent share they held, as part of the merger’s exchange ratio. This strategic move is expected to enhance shareholder value and solidify Arcadium Lithium’s market position.

Who is allkem & Livent?

Combining U.S.-based Livent and Australia-based Allkem creates an industry powerhouse on four continents that executives hope will bring more heft and skills needed to boost supply of the metal to an automotive sector, including Tesla Inc, General Motors Co and BMW.

Will Livent & allkem combine?

Lithium companies Allkem Ltd and Livent Corp said on Wednesday they will combine in an all-stock $10.6 billion deal to create the world's third-largest producer of the metal used to make electric vehicle batteries. Shares of Livent were up about 5.4% to $25.53 in late morning trading on the New York Stock Exchange.