BRISBANE, Australia, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Allkem Limited (ASX: AKE, “Allkem” or the “Company”) is pleased to announce that Arcadium Lithium plc (“NewCo”), the new holding company of the combined group that will result from the proposed merger of Allkem and Livent Corporation (Livent) (Transaction), has received Australian Foreign Investment Review Board (“FIRB”) approval (“FIRB Approval”).
Allkem, Livent and NewCo have now received antitrust/competition approvals in Canada, China, Japan, South Korea and the U.S., as well as foreign investment approvals/completion of investment screenings in Australia, the U.K. and the U.S. This represents all competition and foreign investment approvals that are expected to be required prior to completion1.
Allkem and Livent are targeting closing of the Transaction on 4 January 2024. The closing of the Transaction remains subject to the satisfaction or waiver of other closing conditions, including approval by both Livent and Allkem shareholders and Australian Court approval of the Scheme.
This release was authorised by Mr Martin Perez de Solay, Managing Director and Chief Executive Officer of Allkem Limited.
Not for release or distribution in the United States
This announcement has been prepared for publication in Australia and may not be released to U.S. wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction, and neither this announcement or anything attached to this announcement shall form the basis of any contract or commitment. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under the U.S. Securities Act of 1933 or exempt from, or not subject to, the registration of the U.S. Securities Act of 1933 and applicable U.S. state securities laws.
1 Note that pursuant to the Argentinian Merger Control Regulations, Arcadium Lithium plc will be required to notify the Argentinian Antitrust Authority of the Transaction, and seek its approval, no later than one week after the Transaction is implemented. Implementation of the Transaction is not conditional upon or otherwise subject to the parties obtaining the approval of the Argentinian Antitrust Authority.