Merger: Yes or No, page-62

I think the deal makes alot of sense, but the valuation is the issue for me. You could make a case for 2/3rds AKE and 1/3rd Livent based on the financial metrics and asset comparisons. However, I think 60/40 would be enough to get me to vote Yes.

All lithium stocks have come off with the price of the commodity, at the moment the AKE valuation if you back out the cash is getting close the replacement cost of the assets, so we are all doing it tough at the moment and that is likely why most of us are against the merger.

If we had another $1B in cash I would say forget the merger and just buy Livent, it could still be possible to do it if we paid for half the transaction in shares, just a thought.