The merger announced in May will create the world's third-largest producer of lithium.
Allkem said on Thursday that it has received, or will soon receive, the necessary competition and foreign investment approvals for its planned $10.6 billion merger with Livent.
The merger, announced in May, is expected to close around the end of 2023 and will create Allkem Livent, the world’sSign Up for the Battery Metals DigestAllkem said it is awaiting approvals from certain regulators, both companies’ shareholders and Australian courts, and that the necessary paperwork has been filed with the US market regulator.
The company’s shares rose as much as 4.4% to A$11.815 as of 02:42 GMT, on track for its best day in over a month.
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Allkem rises as $10.6bn Livent deal close edges nearerAustralian lithium major Allkem said on Thursday that it has received, or will soon receive, the necessary competition and foreign investment approvals for its planned $10.6-billion merger with Livent. The merger, announced in May, is expected to close around the end of 2023 and will create Allkem Livent, the world's third-largest producer of the metal used to make electric vehicle batteries.
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