Why has Liontown Resources received a revised proposal from Albemarle Corporation?
Liontown Resources Limited
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Why has Liontown Resources received a revised proposal from Albemarle Corporation?

Liontown Resources Limited has received a revised conditional and non-binding indicative proposal from Albemarle Corporation to acquire all of its outstanding ordinary shares. The proposal suggests a cash offer of $3. 00 per share through a scheme of arrangement.

Is this the final proposal from Albemarle?

Albemarle has stated that the revised indicative proposal is its best and final offer, unless a better proposal is presented. However, there are several conditions that need to be met before the proposal becomes binding. These include Albemarle's satisfaction with due diligence, the unanimous recommendation of the Liontown Board, and the agreement on mutually acceptable scheme implementation deed.

What is Liontown's response to the revised proposal?

After careful consideration of the revised indicative proposal, the Liontown Board has decided to grant Albemarle a limited period of exclusive due diligence.

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During this period, Albemarle will have the opportunity to provide a binding proposal, subject to the agreement of a mutually acceptable non-disclosure and exclusivity agreement. If a binding proposal is made at $3. 00 per share and a binding scheme implementation agreement is agreed upon, the Liontown Board intends to recommend that shareholders vote in favor of the proposal, as long as there is no superior offer.

What happens next?

It is important to note that there is no guarantee that the revised indicative proposal will progress to a binding offer. The Liontown Board will keep shareholders and the market informed of further developments as they arise. Shareholders are not required to take any action at this point.

Who is advising Liontown in relation to the revised proposal?

Greenhill & Co. and UBS are acting as financial advisers, while Allens is serving as the legal adviser to Liontown regarding the revised indicative proposal.

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