Allkem General Discussion, page-3603

Allkem announced after market close on Wednesday its intention to merge with chemical manufacturer Livent. The merger will be by way of an issuance of new shares to the shareholders of each company in a new yet to be named company (NewCo).
The transaction ratio will see Allkem shareholders receive one (1) right to a share in NewCo for each existing Allkem share. Livent shareholders will receive 2.406 NewCo shares for each Livent share held. The ownership structure of NewCo will be circa 56% by Allkem shareholders and 44% Livent shareholders. On current market values NewCo will carry a market value of circa A$11.5 billion.
The merger will be subject to shareholder approvals from both companies and other statutory approvals. The merger is expected to complete by calendar year-end 2023. We have no concern over the CDI listing on the Australian Stock Exchange, post completion of the merger.
We are positive around the benefits each company brings to the table and are comfortable at this early stage with the dilution of ownership to Allkem shareholders as a result of the merger.