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It is reported that the U.S. lithium industry giant Livent Corporation (NYSE: LTHM, “Livent”) has decided to meet with Australian investors from Allkem Limited (ASX|TSX: AKE, “Allkem”) starting this Monday to discuss the merger. The merger plan will be put to a vote next month. Once approved, the world’s third-largest lithium producer will be created with assets covering Australia, Canada and Argentina.

Against the backdrop of weak lithium demand and prices, Paul Graves, CEO of Livent, stated that the merger would bring more growth opportunities and stability to the company. And he will continue to hold the top position in the newly formed company, Arcadium Lithium.

u.s.-lithium-industry-giant-livent-to-merge-with-allkem-becoming-worlds-third-largest-lithium-producer-electrification-solutions

Livent is a company focused on the lithium industry and has been actively expanding its business in recent years. Allkem is also an experienced player in this field, with operations spanning Australia, Canada and Argentina. The merger of the two companies will provide them with broader resources and advantages in the lithium industry, enhancing market competitiveness.

The value of this merger is as high as $10.6 billion (US), making it a significant deal in the lithium industry. If Allkem shareholders support this transaction in the vote on December 19, 2023, the merged company will come out stronger with greater resources, further consolidating its position in the global lithium market.

With the continuous expansion of the EV market serving as a crucial battery metal, lithium is experiencing increasing demand. Therefore, the merger of Livent and Allkem will further drive the development of the lithium industry, ensuring sustained growth for the global EV market.

Source: https://www.ccmn.cn/

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