In 2009, writing in Rolling Stone, journalist Matt Taibbi famously described Goldman Sachs as a “great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money”.
Guess who is a squidman? Mr Pall Graves from Livent!
And guess who could be seen by some as having colluded with the Chinese to artificially suppress the lithium price in recent times even during a period when stockpiles were being running down? I contend the vampire squid might be a possibility.
Two things said about your average squidman: if they are not the smartest person in any room they are in, they at least think they are; and they've earned their squidman spurs by showing a willingness to screw over everyone and anyone at any time.
For me, once a squidman always a squidman and if Graves takes control of the new Allkem it is not if he will screw us over it is how and when he will screw us over (I reckon that in trying to impose the deal on offer he is already attempting to screw over Allkem shareholders). You can tell by the half-joking animosity he showed towards a few analysts' questions and his thinking that he was doing 54% of his new shareholder base a favour by actually travelling to Australia this year. Barely disguised disdain imo. Also note it was Martin MD that butted in to say the new Allkem will continue to have a focus on the lithium industry in Australia, not the squidman. My guess is Graves has no interest in the Australian industry or Australian shareholders and will screw us over.
Peter Coleman needs to come up with another MD given his obligation to existing Allkem shareholders. Anyway, let's see who Graves manages to get as Allkem's Independent Expert: maybe the squid? The deal makes strategic sense, but not with Graves at the helm.
