The good part is that they withdrew the offer due to the growing transaction complexities (i.e. Gina's stake), not because of any changed view on the lithium market. They said that they "had confirmed a favorable view of its Kathleen Valley project and the Australian company's proposal".
This was interesting too; "On Sept. 11, the ASX-listed company granted Albemarle four weeks to examine its books following a fresh takeover proposal." They were granted an extra week but five weeks for a more advanced project suggests potential suitors for Phoenix shouldn't need too long to work out their view on valuation. Hopefully negotiations on offers are already underway - and hopefully multiple offers are on the table.
