LTR News: Albemarle abandons Australian lithium deal after billionaire Gina Rinehart builds stake - 16th Oct 2023, 7:59pm

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Albemarle’s $4.2bn takeover of lithium developer Liontown Resources has collapsed after Australia’s richest person Gina Rinehart acquired a big enough stake in the business to block the deal. US miner Albemarle, the world’s largest lithium producer, abandoned the Liontown deal on Monday, citing “growing complexities associated with the proposed transaction”. Albemarle had been working for months to acquire Liontown and its offer was accepted in September.

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