Australia's Allkem soars on regulatory approvals for Livent merger

Allkem

15/11/2023 01:31

** Shares of Allkem Ltd  AKE.AX  jump as much as 7.9% to
A$9.30 in their sharpest intraday pct gain since May 11
    ** Stock among top gainers in the local mining index
 .AXMM , which rises 2.8% on higher iron ore prices 
    ** Lithium miner's proposed $10.6 bln merger with U.S.-based
Livent Corp  LTHM.N  received all required pre-closing
regulatory approvals - Livent
    ** Deal is expected to close by Jan. 4 if Allkem
shareholders vote in its favour at a Dec. 19 meeting
    ** AKE stock down 23.3% this year, as of last close

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))