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Lithium producers Allkem, Livent to combine in $10.6 billion deal

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Lithium companies Allkem Ltd and Livent Corp said on Wednesday they will combine in an all-stock $10.6 billion deal to create the world's third-largest producer of the metal used to make electric vehicle batteries.

"To develop more lithium projects, you need to be big enough to finance, you need access to resources and you need technical expertise," Livent CEO Paul Graves said in an interview. "Combining the two companies helps us with all of those areas."

Allkem also produces hard rock lithium in Australia, has a chemical conversion facility in Japan, and is an expert in the nascent field of, which is increasingly seen as a tantalizing prospect to produce more of the battery metal faster than traditional mining methods.

 

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Allkem to buy US lithium producer Livent Corp to create $10.6 bln firmAustralian lithium miner Allkem Ltd has inked an agreement to acquire U.S.-based chemical manufacturing firm Livent Corp in a deal that will create a $10.6 billion entity, the two companies announced on Wednesday.
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