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Albemarle Corp

All articles tagged with #albemarle corp

business1 year ago

Albemarle's Q4 Performance: Navigating Market Challenges

Albemarle Corp reported mixed financial results for the fourth quarter and full year of 2023, achieving record net sales of $9.6 billion, but facing a net loss of $618 million in Q4 due to charges. The company's proactive measures to unlock cash flow and focus on high-return projects demonstrate resilience amidst market challenges. Despite the net loss, Albemarle's strategic investments and outlook for 2024, including a projected increase in Energy Storage volumes, position the company to sustain its leading role in the lithium market.

via Yahoo Finance|
#alb#albemarle-corp#business
business2 years ago

Albemarle's $4.2 Billion Liontown Deal Falls Through

Albemarle Corp, the world's largest lithium producer, has abandoned its $4.2 billion takeover of Australian miner Liontown Resources Ltd. The decision comes after mining tycoon Gina Rinehart, the largest shareholder in Liontown, steadily built up a 19.9% stake, potentially blocking the deal. Albemarle cited "growing complexities associated with executing the transaction" as the reason for withdrawing its proposal. Rinehart has not provided an alternative plan but seeks a "prominent influence in Liontown's future." The demand outlook for lithium remains robust, driven by the clean energy transition, while Liontown is seeking funding to develop its Kathleen Valley lithium project.

via Yahoo Finance|
#albemarle-corp#business#gina-rinehart
business2 years ago

Liontown Resources Supports Albemarle's $4.3 Billion Bid

Liontown Resources, an Australian lithium developer, has backed a refreshed A$6.6 billion ($4.26 billion) bid from Albemarle Corp, the world's largest lithium producer. The new cash offer price of A$3 per share represents a premium of 14.5% to Liontown's last closing price and is 20% higher than Albemarle's previous offer. Liontown's board intends to unanimously recommend shareholders vote in favor of the new takeover proposal. The surge in buyouts of Australian lithium companies is driven by their lower valuations and the increasing demand for lithium in electric vehicle batteries.

via Reuters|
#acquisition#albemarle-corp#business