{"id":6738,"date":"2023-09-05T01:37:28","date_gmt":"2023-09-05T01:37:28","guid":{"rendered":"https:\/\/prosfunds.com\/investing\/albemarle-nears-4-3-billion-deal-to-buy-australian-lithium-miner-liontown-report\/"},"modified":"2023-09-05T01:37:28","modified_gmt":"2023-09-05T01:37:28","slug":"albemarle-nears-4-3-billion-deal-to-buy-australian-lithium-miner-liontown-report","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=6738","title":{"rendered":"Albemarle nears $4.3 billion deal to buy Australian lithium miner Liontown: report"},"content":{"rendered":"
\n

Liontown Resources Ltd.
\n LTR,
\n -1.93%<\/bg-quote>,<\/span>
\n an Australian lithium miner, is supporting a $4.3 billion buyout offer by North Carolina-based specialty chemicals giant Albemarle Corp.
\n ALB,
\n +0.78%<\/bg-quote>,<\/span>
\n Bloomberg News reported Sunday. Albemarle boosted its offer, originally submitted in March, to a 15% premium to Friday\u2019s closing price, Bloomberg said. Liontown had originally rebuffed Albemarle\u2019s offer, but the company\u2019s board said Monday it would recommend the new bid, according to Bloomberg. Albemarle is the world\u2019s biggest producer of lithium \u2014 a metal that is key in the making of electric-vehicle batteries \u2014 and earlier this year announced a $1.3 billion investment in a lithium hydroxide facility to be located in South Carolina. Albemarle shares are down nearly 8% year to date.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Liontown Resources Ltd. LTR, -1.93%, an Australian lithium miner, is supporting a $4.3 billion buyout offer by North Carolina-based specialty chemicals giant Albemarle Corp. ALB, +0.78%, Bloomberg News reported Sunday. Albemarle boosted its offer, originally submitted in March, to a 15% premium to Friday\u2019s closing price, Bloomberg said. Liontown had originally rebuffed Albemarle\u2019s offer, but […]<\/p>\n","protected":false},"author":1,"featured_media":3604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[32],"tags":[],"class_list":{"0":"post-6738","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\nAlbemarle nears $4.3 billion deal to buy Australian lithium miner Liontown: report | Prosfunds<\/title>\n<meta name=\"description\" content=\"Liontown Resources Ltd. 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