The ALB offer for LTR has somewhat put a floor on the share price for PLS. If ALB pulls out and doesn't up its offer, all bets are off and the rug will be pulled out from underneath PLS and all lithium stocks. I can't see ALB upping its offer. The continuous crash in lithium prices is surely going to dampen their appetite. $6b+ for an asset that isn't going to be generating cash for quite a while. Someone in risk management at ALB is going to be questioning it.
Also, short interest in PLS hasn't budged since the LTR takeover offer. It's safe to say PLS isn't a takeover target. It's too big for an all cash takeover at a premium to the current valuation.
Good News & Bad News, page-26950
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Last
$2.41 |
Change
-0.170(6.59%) |
Mkt cap ! $7.257B | |||
| Open | High | Low | Value | Volume |
| $2.57 | $2.60 | $2.41 | $64.35M | 25.99M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 123970 | $2.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.42 | 15148 | 3 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |