By way of background this is how Albermale paid for Rockwood - wouldn't discount a cash offer plus shares if it is a full takeover (although that would be difficult per se given Albermale is a US listed entity).
So if it is a full takeover, which I don't think it will be it would have to be done via MIN/Albermale establishing a new 'lithium entity' and go that way, or MIN been funded to do the takeover with then MIN/Albermale coming to an agreement on how those assets are put into a JV and how Albermale pays for that. Cash and script is the cheaper option for Albermale/MIN than a full cash takeover, hence why I also feel that if anything it will be a JV arrangement and not a takeover, which IMO will be based on LTR's terms (given LTR can go its own way given it has the spod and ultimately, if things go right in production, free cash flow to build its own hydroxide facilities).
Agree with @vmp, in that where LTR can benefit from a JV arrangement is in the hydroxide stage, and getting earlier access to hydroxide revenues than waiting to build its own facilities, (given Albermale has experience there and have plants that probably are going to need new spodumene supply anyway). Obviously if the price isn't good, LTR will go its own way anyway, but may take a few extra years before it gets to hydroxide.
All IMO
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Albemarle Corporation completes acquisition of Rockwood Holdings (prnewswire.com)
"Under the terms of the Merger Agreement, Rockwood has become a wholly-owned subsidiary of Albemarle and each previously outstanding share of Rockwood common stock (other than shares with respect to which appraisal rights were exercised and not withdrawn) has been converted into the right to receive$50.65in cash, without interest, and 0.4803 of a newly issued share of Albemarle common stock (together, the "Merger Consideration"). As a result of the completion of the transaction, Rockwood shares will cease trading on and will be delisted from the New York Stock Exchange. Wells Fargo, the exchange agent for the transaction, will be communicating with the record holders of Rockwood stock with instructions as to how to exchange their Rockwood shares for the Merger Consideration."
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