Allkem shareholders vote in favour of $16bn merger

Allkem shareholders have given the tick of approval for the major merger with Livent Corporation to form Arcadium Lithium valued at $16 billion.  

More than 89 per cent of Allkem’s shareholders voted in favour of the merger which would create a new global lithium player worth $15.7 billion together.   

Pennsylvania-based lithium chemicals producer Livent’s shareholders will cast their votes from New York tomorrow. 

Allkem, formerly known as Orocobre, is chaired by ex-Woodside Energy chief executive Peter Coleman, who would become the chairman of the new company.

Mr Coleman said the merger was expected to create a highly complementary and vertically integrated business model. 

He said it would enhance operational flexibility and reliability, which was expected to result greater vale capture across the lithium value chain. 

If approved by Livent shareholders, the merger will be put before the Federal Court of Australia for approval on December 20.