Liontown Resources rejects Albemarle’s indicative proposal for acquisition

Albemarle Corporation's recent conditional and non-binding indicative proposal to acquire all of the shares in Liontown Resources Limited (ASX: LTR) at a price of AU$2.50 per share has been rejected by the Liontown Board. The proposal was subject to several conditions, including regulatory approvals, competition approval, a mutually acceptable scheme implementation deed, and Liontown providing exclusive due diligence to Albemarle's satisfaction.

The Liontown Board unanimously determined that the proposal substantially undervalued Liontown and was not in the best interests of shareholders. The Board noted the recent softness in companies exposed to the lithium sector and the pre-production status of the Kathleen Valley Project. The company continues to progress attractive funding options for the remaining capital at the Kathleen Valley Lithium Project and expects to update the market on this front shortly.

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