Dow Jones Newswires: Albemarle scraps Liontown takeover bid due to deal’s ‘growing complexities’

SYDNEY — Albemarle scrapped its proposed $4.16 billion takeover of Liontown Resources, citing the difficulty of completing the deal following the intervention of Australia’s richest woman.

Liontown on Monday said that Albemarle ALB withdrew its cash offer of 3.0 Australian dollars (US$1.89) per share. Australian billionaire Gina Rinehart’s Hancock Prospecting last week announced it had taken a 19.9% equity stake in Liontown AU:LTR.



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