If this doesn't highlight how differently the industry is thinking about the lithium market compared to the equity market, nothing does. ALB would not be bidding for this asset if it didn't believe in the long-term tight supply/demand outlook for lithium, and strong long term pricing, something that the equity market is clearly struggling with in the face of the recent fall in lithium prices in China. This highlights the attraction of large assets in tier one jurisdictions - ie - Eyes on Phoenix Lithium!!
https://www.miningweekly.com/article/liontown-rejects-albemarle-bid-2023-03-28
PERTH (miningweekly.com) – Lithium developer Liontown Resources has knocked back a non-binding indicative proposal from North American major Albemarle Corporation, which had offered A$2.50 a share for the company, via a scheme of arrangement.Albemarle confirmed that it had submitted a non-binding proposal to acquire all of the outstanding shares in Liontown, which valued at the company at A$5.2-billion, with the offer representing a 63% premium to Liontown’s last closing price and a 69% premium to the company’s 30-day volume weighted average share price.
