Why this article published about merger ?, page-6

The fact that AKE and livents share prices aren't at parity with the merger valuation means that the market is pricing in a small chance of the merger not going ahead. Based on the fact that AKE is higher, it would seem to imply that the market expects AKE shareholders are more likely than livent shareholders to vote against the deal.

Doesn't mean it will/wont happen, its just what the market thinks