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By Scott Murdoch
SYDNEY (Reuters) - Australian billionaire Gina Rinehart has taken a 19.9% stake in lithium miner Liontown Resources, her company Hancock Prospecting said on Wednesday, potentially hindering a takeover bid launched by U.S. mining giant Albemarle Corp.
Hancock has steadily built its stake since September, when Albemarle Corp lodged its bid for Liontown. The U.S. miner needs 75% support from Liontown investors who vote on the deal to succeed with its bid.
"Hancock now looks forw...
>>> Read more: Australian billionaire Gina Rinehart accumulates 19.9% stake in Albemarle target Liontown
SYDNEY (Reuters) - Australian billionaire Gina Rinehart has taken a 19.9% stake in lithium miner Liontown Resources, her company Hancock Prospecting said on Wednesday, potentially hindering a takeover bid launched by U.S. mining giant Albemarle Corp.
Hancock has steadily built its stake since September, when Albemarle Corp lodged its bid for Liontown. The U.S. miner needs 75% support from Liontown investors who vote on the deal to succeed with its bid.
"Hancock now looks forw...
>>> Read more: Australian billionaire Gina Rinehart accumulates 19.9% stake in Albemarle target Liontown
