Galaxy Resources' long-held interest in rival lithium producer Alliance Mineral Assets has been confirmed through a share placement that has made Galaxy the biggest shareholder and most likely acquirer of its neighbour.
Galaxy on Thursday subscribed for $22.5 million of Alliance shares, making it the biggest shareholder.
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Peter Ker covers resource companies for The Australian Financial Review, based in Melbourne. Connect with Peter on Twitter. Email Peter at pker@afr.com
