Tillkännagivande • Jan 05

Arcadium Lithium plc (NYSE:ALTM) completed the acquisition of Allkem Limited (ASX : AKE) in a merger of equals transaction.

Livent Corporation (NYSE:LTHM) signed a definitive agreement to acquire Allkem Limited (ASX:AKE) in a merger of equals transaction for $6.4 billion on May 10, 2023. The transaction would create the combine company value of $10.6 billion. NewCo will have a primary listing on the NYSE and maintain a foreign exempt listing on the ASX (via the issue of CDIs to Allkem shareholders). Under the terms of the Transaction, existing Allkem shareholders will receive one NewCo ASX listed CDI (or be able to elect to receive one NewCo NYSE listed share instead of a CDI) for each Allkem ordinary share held, except for shareholders in certain ineligible jurisdictions, who will receive cash proceeds from the sale of the NewCo CDIs in lieu of such CDIs after closing. Under the Merger, Livent shareholders will receive 2.406 NewCo NYSE listed shares of common stock for each Livent share held. Following the Transaction, Allkem and Livent shareholders are expected to own approximately 56% and 44% of the combined company, respectively. NewCo is to be incorporated in the Bailiwick of Jersey, with corporate headquarters to be in North America, with the exact location and company name to be announced at a later date, and corporate residency to be in Ireland. Upon completion of the Transaction, Peter Coleman will become the Chairman of NewCo, Paul Graves will become the Chief Executive Officer of NewCo, and Gilberto Antoniazzi will become the Chief Financial Officer of NewCo. The NewCo Board will have 14 members, consisting of 7 directors designated by Allkem and 7 directors designated by Livent. The commercial, operational, and capital deployment teams will be comprised of representatives from both companies. Allkem Chief Executive Officer, Martín Pérez de Solay, will provide consulting services to NewCo to help facilitate a smooth integration process post transaction close. As of August 2, 2023, each of Allkem's and Livent's Board of Directors have selected their respective nominees to the Board of NewCo which consists of six Livent nominees from Livent's current Board of Directors and six Allkem nominees from Allkem's current Board of Directors: Michael F. Barry; Peter Coleman (Chair designate of NewCo); Alan Fitzpatrick; Paul W. Graves (Chief Executive Officer designate of NewCo); Florencia Heredia; Leanne Heywood; Christina Lampe-Önnerud; Pablo Marcet; Steven T. Merkt; Robert C. Pallash; Fernando Oris de Roa; and John Turner. Richard Seville and Martin Perez de Solay (MD and CEO) from Allkem's Board of Directors, and Pierre R. Brondeau, Andrea E. Utecht and G. Peter D'Aloia from Livent's Board of Directors, will retire as directors upon closing of the transaction. In case of termination, either party will pay a termination fee of $64.6 million. Livent Corporation will be the accounting acquirer in the transaction. The transaction is expected to close by the end of calendar year 2023. Share for share exchange transaction expected to be a tax-free transaction for shareholders. The transaction have been unanimously approved by the Board of Directors of each company, and in the case of Allkem, subject to the Independent Expert concluding, and continuing to conclude, that the Scheme is in the best interest of Allkem shareholders. Closing of the Transaction is subject to the satisfaction or waiver of customary closing conditions, including receipt of regulatory approvals, approval by both Livent and Allkem shareholders, the Independent Expert concluding that the Scheme is in the best interest of Allkem shareholders and not changing, withdrawing, or qualifying that conclusion, tax opinion delivery, and Australian tax class ruling confirmation, and Australian Court approval. The Transaction Agreement includes reciprocal exclusivity arrangements (including notification obligations) in favour of both parties, a matching right regime in favour of both parties and termination fees in favour of both parties. The exclusivity arrangements are subject to customary exceptions that enable the directors of Allkem and Livent to comply with their respective fiduciary and/or statutory duties. As per filling on October 24, 2023, Livent and Allkem have agreed that the name of the combined company will be Arcadium Lithium plc. As of November 8, 2023, Federal Court of Australia approves convening of Scheme Meeting and dispatch of Scheme Booklet with merger effective date of January 4, 2024. As of November 14, 2023, all required pre-closing regulatory approvals in connection with the proposed merger have been received including antitrust approvals in Canada, China, Japan, South Korea and the U.S., as well as completion of investment screenings in Australia, the U.K. and the U.S. The closing of the Transaction remains subject to approval by both Livent and Allkem shareholders, and Australian Court approval of the Scheme. As on November 15, 2023, the proposed merger of Allkem and Livent Corporation has received Australian Foreign Investment Review Board approval. Allkem, Livent and NewCo have now received antitrust/competition approvals in Canada, China, Japan, South Korea and the U.S., as well as foreign investment approvals/completion of investment screenings in Australia, the U.K. and the U.S. This represents all competition and foreign investment approvals that are expected to be required prior to completion. As per filling on December 19, 2023, Allkem shareholders vote in favour of merger with Livent and a final court approval is still pending. If the Court approves the Scheme at the Second Court Hearing, Allkem intends to lodge a copy of the orders of the Court with the Australian Securities and Investments Commission on December 21, 2023. As of December 19, 2023, Livent and Allkem announced that they have obtained all requisite shareholder approvals necessary to complete the merger of equals. The two companies expect to close the merger on January 4, 2024 and begin operating under the name Arcadium Lithium plc (NYSE:ALTM) (ASX:LTM). Gordon Dyal & Co., LLC. is acting as exclusive financial advisor and William H. Aaronson, Cheryl Chan, William A. Curran, Kyoko Takahashi Lin, Michael Kaplan, Howard Shelanski and Suzanne Munck af Rosenschold of Davis Polk & Wardwell LLP and Guy Alexander, Dave Filov, Bryn Hardcastle, Andrew Wong, Ellen Thomas and Adrian Chek of Allens are acting as legal counsel to Livent. Gordon Dyal & Co. Advisory Group LP acted as fairness opinion provider to the board of directors of Livent. Livent has agreed to pay Gordon Dyal & Co. a fee of $35.0 million for Gordon Dyal & Co.’s services rendered in connection with the transaction. UBS Securities Australia Limited and Morgan Stanley & Co. LLC are acting as financial advisors and Antonella Pacitti, Roger Davies, Cairo Leicester and Tom Carmody of King & Wood Mallesons and Joseph P. Michaels, Brian J. Fahrney, James Wood, Rachel D. Kleinberg, Jason Menzies, Sonia Gupta Barros, Sara M. von Althann, William Blumenthal, Vincent Brophy, Rosanna Connolly, Laura Collins, Andrew Shoyer, James Mendenhall, Sven De Knop, Grigore Alexandru, Matthew E. Johnson, Christian E. Pilhofer, Teresa L. Reuter, Elizabeth K. McCloy, Heather M. Palmer, Anna Remis, Sarah A. Jehl and Tim Chandler of Sidley Austin LLP are acting as legal counsel to Allkem. Fasken Martineau DuMoulin LLP acted as a legal advisor to Allkem Limited. Morrow Sodali acted as a proxy solicitor to Livent Corporation. Simon Dinning and Alexander Curry of Ogier LLP acted as legal advisors for Livent. Arcadium Lithium plc (NYSE:ALTM) completed the acquisition of Allkem Limited (ASX : AKE) in a merger of equals transaction on January 4, 2024. Arcadium Lithium ordinary shares will begin trading today on the NYSE under the ticker "ALTM." Arcadium Lithium also maintains a foreign exempt listing on the ASX (via the issue of CHESS Depositary Instruments (CDIs) to Allkem shareholders) and will commence trading on a normal settlement basis on the ASX under the ticker "LTM" on January 5, 2024.

Snöflinga Score
Värdering	5/6
Framtida tillväxt	3/6
Tidigare resultat	5/6
Finansiell hälsa	3/6
Utdelningar	0/6

Historiska aktiekurser
Aktuell aktiekurs	US$16.17
52 veckors högsta	US$29.11
52 veckors lägsta	US$12.77
Beta	1.76
1 månads förändring	13.79%
3 månaders förändring	-5.88%
1 års förändring	-18.29%
3 års förändring	n/a
5 års förändring	n/a
Förändring sedan börsintroduktionen	-18.20%

	0A6T	GB Chemicals	GB Marknad
7D	-10.2%	-3.9%	1.2%
1Y	-18.3%	-0.8%	19.3%

0A6T volatility
0A6T Average Weekly Movement	9.9%
Chemicals Industry Average Movement	6.3%
Market Average Movement	5.4%
10% most volatile stocks in GB Market	10.9%
10% least volatile stocks in GB Market	2.9%

0A6T grundläggande statistik
Börsvärde	US$2.97b
Vinst(TTM)	US$375.10m
Intäkter(TTM)	US$920.10m

0A6T resultaträkning (TTM)
Intäkter	US$920.10m
Kostnad för intäkter	US$380.00m
Bruttovinst	US$540.10m
Övriga kostnader	US$165.00m
Intäkter	US$375.10m

Vinst per aktie (EPS)	2.08
Bruttomarginal	58.70%
Nettovinstmarginal	40.77%
Skuld/egenkapitalförhållande	14.0%

Uppgifter	Senast uppdaterad (UTC-tid)
Analys av företag	2024/01/05 16:37
Aktiekurs vid dagens slut	2024/01/03 00:00
Intäkter	2023/09/30
Årlig intjäning	2022/12/31

Paket	Uppgifter	Tidsram	Exempel US-källa
Företagets finansiella ställning	10 år	Resultaträkning Kassaflödesanalys Balansräkning	SEC Form 10-K SEC Form 10-Q
Analytikernas konsensusuppskattningar	+3 år	Prognos för finansiella poster Analytikernas prismål	Rapporter från analytiker Blue Matrix
Marknadspriser	30 år	Aktiekurser Utdelningar, splittar och åtgärder	ICE Marknadsdata SEC Form S-1
Ägarskap	10 år	Största aktieägare Insiderhandel	SEC Formulär 4 SEC Formulär 13D
Förvaltning	10 år	Ledningsgrupp Styrelse och verkställande direktörer	SEC Form 10-K SEC Form DEF 14A
Viktiga utvecklingstendenser	10 år	Företagsmeddelanden	SEC Formulär 8-K

Analytiker	Institution
John Eade	Argus Research Company
William Selesky	Argus Research Company
Stephen V. Byrne	BofA Global Research

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Allkem Limited (ASX:AKE) signed a definitive agreement to acquire Livent Corporation (NYSE:LTHM) in a merger of equals transaction for $3.7 billion.

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