Earlier Announced Allkem Shareholders Vote In Favor Of Merger With Livent
Portfolio Pulse from Benzinga Newsdesk
Allkem shareholders have voted in favor of a merger with Livent Corporation. The proposed scheme of arrangement will see Arcadium Lithium acquire all shares in Allkem. The merger aims to create a vertically integrated business model to enhance operational flexibility and value capture across the lithium value chain. Livent stockholders will vote on the Transaction Agreement on December 19, 2023. If approved, Allkem will seek court approval on December 20, 2023, and if successful, the Scheme will become effective on December 21, 2023, leading to a suspension of Allkem shares from trading.
December 19, 2023 | 2:30 pm
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Livent Corporation (LTHM) is set to merge with Allkem, pending approval from Livent stockholders on December 19, 2023. The merger is expected to create a vertically integrated lithium business, enhancing value capture and operational flexibility.
The approval by Allkem shareholders is a positive step towards the merger with Livent, indicating progress in the deal. If Livent stockholders also approve the Transaction Agreement, it is likely to have a positive short-term impact on LTHM's stock price due to the anticipated synergies and enhanced market position.
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