alengo/E+ via Getty Images
Australian battery metals explorer Liontown Resources (OTCPK:LINRF) said Monday it rejected a non-binding indicative takeover proposal from lithium producer Albemarle (NYSE:ALB) which valued the company at A$5.5B (~US$3.66B).
Liontown controls two major lithium deposits in Western Australia, including its flagship Kathleen Valley project, one of the world’s largest and highest-grade hard rock lithium deposits.
Albemarle (ALB) is “poised for rapid long-term expansion thanks to the rising demand for lithium to power EVs and charging stations,” Yannick Frey writes in an analysis posted recently on Seeking Alpha.
