Albemarle walks away from $6.6b Liontown bid

Brad Thompson and Elouise Fowler

Updated Oct 16, 2023 – 12.30pm, first published at 10.42am

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Already a subscriber?

Albemarle has pointed the finger at Gina Rinehart after walking away from its $6.6 billion takeover bid of West Australian lithium hopeful Liontown Resources, which is in a trading halt as it tries to lock in at least $450 million in funding needed to complete its flagship Kathleen Valley project.

New York-listed Albemarle did not mention Australia’s richest woman by name in citing the “growing complexities” which meant pushing ahead with a bid pitched at $3 a share in early September was “not in Albemarle’s best interests”.

Brad Thompson was a reporter at The Australian Financial Review

Elouise Fowler is a journalist for The Australian Financial Review based in the Melbourne office.