Albemarle shareholders would not accept that massive dilution at current bottom of lithium market share prices. If whatever happens in the end includes Albemarle, it will be putting up cash not ALB shares. (Yes, I am an ALB shareholder that saw the share price drop from a peak of $329 to $160 since last November and that is the primary basis of my statement.)
If the LTR shareholders vote no to the current offer, ALB does already have two Joint Ventures in Australia (50% of Wodgina with Min Res, and 49% of Greenbushes with IGO/Tianqi). So it is not beyond the realm of possible for another offer from ALB framed as a Joint Venture. Something like a JV with 50% ALB ownership and the other 50% going to LTR shareholders including Gina. Would owning around 10% of the resulting JV scratch the itch that Gina has?
ASX Today, page-33484
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