My theory is that one of the Chinese companies that JL consults with made a low-ball offer on SDV and were not happy when it was rejected. The result is to have JL post on Twitter and create podcasts to force Galaxy to rethink their offer.
Last October Ganfeng put out an IPO. Initially they had hoped to raise 1 Billion US$, but only managed $422M. The money raised was to be used to purchase other Lithium assets.
https://www.ft.com/content/1103de82-c7e7-11e8-ba8f-ee390057b8c9At the same time Livent was splitting off from FMC and put out an IPO of their own, which was also initially thought to be in the 1 Billion US$ range. It came in around 330M.
And Galaxy made 280M without an IPO ... or losing anything .
I believe both Livent and Ganfeng had visions of owning a piece of SDV but because they failed to raise enough money they decided to try and low-ball a deal. It probably would have worked if POSCO had not come along.
For months JL has been commenting negatively on both Galaxy and Livent. During this most recent podcast it sounds like maybe he and Livent and now friends ... does this mean they have decided to work together to get a piece of SDV?
