Allkem shareholders will receive one share in the new company for each Allkem share held.
The enlarged group will be headquartered in North America with a name yet to be decided.
It will have capacity to churn out 248,000 tonnes a year of lithium carbonate equivalent.
The new boss of the world’s No.3 lithium giant set to emerge from a tie-up of Australia’s Allkem and Livent signalled the company is on the hunt for more assets in Australia, where he believes miners have been too reliant on China for downstream processing.
Livent chief executive Paul Graves said Western Australia was central to his plans for a New York-listed $US10.6 billion ($15.7 billion) global lithium powerhouse to be chaired by former Woodside Energy boss Peter Coleman.
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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
