Australian billionaire Gina Rinehart accumulates 19.9% stake in Albemarle target Liontown
© Reuters. Gina Rinehart poses in Western Australia in this undated handout photo obtained January 23, 2018. Hancock Prospecting/Handout via REUTERS/File PhotoHancock has steadily built its stake since September, when Albemarle Corp lodged its bid for Liontown. The U.S. miner needs 75% support from Liontown investors who vote on the deal to succeed with its bid.
Albemarle has offered A$3 per share for Liontown which values the company at $4.3 billion. The bid was made through a scheme of arrangement, and its success will depend on the outcome of a ballot of Liontown investors at a shareholder meeting.
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