(Adds details on the deal in paragraph 2-5)
Sept 4 (Reuters) - Australia's Liontown Resources (LTR) said on Monday it recommended a revised takeover offer from Albemarle Corp ALB.N valuing the company at A$6.6 billion ($4.26 billion).
The new offer price is A$3 per share, higher than A$2.50 the company received in March.
Liontown's board determined that it will grant Albermarle, the world's biggest lithium producer, a limited period of exclusive due diligence, the company said.
Liontown had previously knocked back an approach from Albemarle that valued the lithium developer at A$5.50 billion.
Of Liontown's two prior proposals from Albemarle, the first offer of A$2.20 per share was on Oct. 20 last year, and the second of A$2.35 was earlier in March.
($1 = 1.5504 Australian dollars)
News: LTR UPDATE 1-Liontown gets sweetened $4.3 bln buyout offer from Albemarle
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92.5¢ |
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Mkt cap ! $2.242B | |||
| Open | High | Low | Value | Volume |
| 95.0¢ | 96.5¢ | 89.3¢ | $31.30M | 34.06M |
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| No. | Vol. | Price($) |
|---|---|---|
| 7 | 220304 | 92.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 92.5¢ | 159716 | 3 |
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