As part of a multi-year agreement, US specialty chemicals company Albemarle will supply German car manufacturer BMW with battery-grade lithium for its electric vehicles (EVs), starting in 2025.
US specialty chemicals company Albemarle has announced that it will not pursue a binding agreement to purchase Liontown Resources and has formally withdrawn its non-binding offer.
Australian lithium miner Liontown announced that it has received a revised conditional and non-binding indicative proposal from Albemarle to acquire all of the ordinary shares outstanding in Liontown for A$3.00 in cash per share via scheme of arrangement. The revised proposal values Liontown at A$6.6 billion ($4.3 billion) on an equity value basis.
Following a strategic review, US specialty chemicals company Albemarle is retaining its catalysts division, having decided that the best value is to hold the business as a separate, wholly owned subsidiary.
