Australia's Allkem rises as $10.6 bln Livent deal nears completion

Allkem

28/09/2023 04:22

** Shares of Allkem  AKE.AX  rise as much as 4.37% to
A$11.815
    ** The Lithium miner says it has received, or will soon
recieve necessary completion and foreign investment approvals
for its planned $10.6 bln merger with U.S.-based Livent  LTHM.N 
    ** Stock posts its biggest intraday pct gain since Aug 22
    ** Analysts' average rating is equivalent of "Buy", their
median PT is A$16.5 
    ** About 1.6 mln shares changed hands, compared with the
30-day average volume of 2.8 mln shares 
    ** Stock has risen 0.71% this year as of last close,
compared with a 5.17% decline in the metals and mining index
 .AXMM  

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com))