Livent And Allkem Shareholders Approve Merger Of Equals; Expect To Close The Merger On January 4, 2024 And Begin Operating Under The Name Arcadium Lithium plc Under Ticker "ALTM"
Portfolio Pulse from Benzinga Newsdesk
Livent Corporation (NYSE:LTHM) and Allkem Limited (ASX, TSX:AKE) have received all necessary shareholder approvals to complete their previously announced merger of equals. The merger is expected to close on January 4, 2024, and the combined entity will operate under the name Arcadium Lithium plc and trade on the NYSE under the ticker 'ALTM'. The merger is seen as a transformational move that aims to create greater long-term, sustainable value for stakeholders.
December 19, 2023 | 8:58 pm
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The new entity resulting from the merger of Livent Corporation and Allkem Limited will be named Arcadium Lithium plc and will trade under the ticker 'ALTM' starting January 4, 2024.
The announcement of the new ticker 'ALTM' for the merged entity is a critical piece of information for investors. The anticipation of the new company's potential in the market is likely to generate positive sentiment, potentially leading to an uptick in the stock price once it begins trading.
CONFIDENCE 90
IMPORTANCE 95
RELEVANCE 100
POSITIVE IMPACT
Livent Corporation's shareholders have approved the merger with Allkem Limited, which is expected to close on January 4, 2024. The new company will be named Arcadium Lithium plc and will trade under the ticker 'ALTM'.
The approval of the merger is a significant step towards the completion of the transaction, which is expected to create a larger, more competitive entity in the lithium market. This is likely to be viewed positively by investors, potentially leading to an increase in Livent's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100