Albemarle dips as Liontown snubs co's $3.7 bln bid; peers rise

Standard Lithium

28/03/2023 10:07

** Shares of Albemarle Corp  ALB.N , the world's biggest
lithium producer, slips 1.8% to $214.95 premarket
    ** Liontown Resources  LTR.AX  snubs a bid from Albemarle
that valued the Australian lithium developer at $3.7 bln,
sending LTR's shares 59% higher
    ** Takeover approach could signal the start of sector
consolidation, analysts said
    ** U.S. lithium miners gain: Livent Corp  LTHM.N  up 2.6%,
Standard Lithium  SLI.V  rise 6.4%
    ** Australian lithium stocks surge on Tuesday as the
takeover offer underlined the scramble to meet rising demand for
the white metal

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))