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LTR - Liontown Resources

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Dona Ferentes said:
and .... Liontown Resources has received a revised offer from battery chemical producer Albemarle to buy its outstanding shares for $3.00 a share. The board intends to recommend the sale in the absence of a better proposal.
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Well, there m a bye another price revise....3.50 maybe the top.
 
interesting to see what tomorrow "fright day" may bring forward, another 10% up in SP would be nice for position in the competition!!!!!!!
 
Gina Rinehart’s Hancock Prospecting revealed late on Monday that it has a 7.72 per cent stake in Liontown, and intends to have a say in the future of the company, indicating it may seek a seat on the Liontown board
 
and ...
Hancock Prospecting now holds a 10.69 per cent stake in Liontown, up from the 7.72 per cent disclosed on September 11

..going to make the $3 a share takeover offer from Albemarle hard to bed down
 
Liontown Resources LTR is once again my tip for the October competition. Now that it has fallen back a little after the excitement of a perhaps takeover offer, and the mega rich mistress of mining grabbing a shovelful of LTR script, I am now thinking this should well be the month that the SP will be in the mid $3 range. If that does occur then a tidy profit will fall my may and hopefully to many others also.
 
Dona Ferentes said:
and ...
Hancock Prospecting now holds a 10.69 per cent stake in Liontown, up from the 7.72 per cent disclosed on September 11

..going to make the $3 a share takeover offer from Albemarle hard to bed down
Click to expand...
Good morning
Has been reported, Gina Rineharts Hancock Prospecting dropped another $110m or so into Liontown Resources last week, moving to a 12.36 per cent ownership stake.

An ASX notice on Friday, after market closed, revealed another large trade by the mining billionaire. Ms Hancock is still well short of the holding necessary to block Albemarle’s $3 per share, $6.6bn bid for Liontown, which is going through due diligence.

Very intestesting indeed...

Have a nice week.

Kind regards
rcw1
 
With the money that the Mining Queen has she could just buy LTR outright.
 
farmerge said:
With the money that the Mining Queen has she could just buy LTR outright.
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but that may cost more?
.
and today .... Euroz Hartleys crossed a line of 47.6 million shares in Liontown Resources after the market closed on Tuesday, with fingers once again pointing to Gina Rinehart as the buyer. At $3.00 a share, the trade totalled $142.8 million.

It was worth just over 2 per cent of the company, and it should take Rinehart to 14.67 per cent of the register. A substantial shareholding notice file later on Tuesday evening confirmed the trade
 
Though I am only holding a tiny parcel I would like to think that the Mining Queen's buy into LTR will lift the SP to a reasonable high soon.
 
Another large LTR transaction today at about 5pm of 6.1 million shares.
Is the Mining Queen in the market this time at $2.97 with an outlay of $18.117 millon
 
can anyone tell me what will happen to my LTR shares if the Albemarle deal goes through? With Albemarle being listed on the NYSE will there be a dual listing or will all shares be in NYSE?
 
Colm Doc said:
can anyone tell me what will happen to my LTR shares if the Albemarle deal goes through? With Albemarle being listed on the NYSE will there be a dual listing or will all shares be in NYSE?
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@Colm Doc Whilst the Mining Queen is buying up big any takeovr is going to cost a serious amount over that projected $3 a share.
 
Colm Doc said:
can anyone tell me what will happen to my LTR shares if the Albemarle deal goes through? With Albemarle being listed on the NYSE will there be a dual listing or will all shares be in NYSE?
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Good afternoon Colm Doc,
Gina’s stake in the company has grown to 16.69%. What is she doing, is the question...???

LTR Board had determined to grant Albemarle an opportunity to conduct due diligence.
They are super keen to get it over the line and have advised will recommend same to shareholders. Believe, they need 75% of the vote for success in this regard.

Won't take too much effort by Gina to get the 25%, reckon, (an assumption) either with stand alone ownership and or alternatively with partners ... outside her umbrella. Gina has paid $3 for some of the shares. Anyways, therein lies some real good leverage.

Brace yourself Colm Doc if holding, might well get more coin... than the 3 bucks.

can anyone tell me what will happen to my LTR shares
Click to expand...

Need to wait a tad longer for confirmation, and the disclosures / agreements that come with a takeover, but, if all goes through... you get the colour of money... ; as Albemarle shareholders acquire LTR.

Not holding.

Have a very nice week.

Kind regards
rcw1
 
Thanks
 
Thanks rcw1, I don’t know what the lovely Gina is doing either but I’m not sure where I stand if the Albemarle deal happens given that they are listed on the NYSE and I don’t have an international trading account . I know that Allkem and Livent is a merger of equals and will be a dual listing so my allkem shares will (probably) become NEWCO. Listed on ASX. But this is a takeover. Thoughts anyone?
 
Ah, do you mean I will just get paid out if the takeover happens? Thanks.
 
Good evening
Has been reported in the Financial Review by
Brad Thompson
Oct 10, 2023 – 7.25pm

Gina Rinehart has reinforced her potential blocking stake in takeover target Liontown Resources, as $6.6 billion suitor Albemarle weighs up its next move after reaching the end of a four-week due diligence period.

Mrs Rinehart’s Hancock Prospecting said on Tuesday that its stake in Liontown stood at 18.4 per cent after forking out another $110 million on the lithium stock over the past two days.

The Rinehart spending spree on Liontown stock since April now totals almost $1.2 billion with most of its shares acquired at $3, which matches Albemarle’s indicative all-cash takeover offer.
Liontown and New York-listed Albemarle have not updated the market since the designated due diligence period ended.
There is a possibility Albemarle may seek to extend due diligence on a takeover deal that now hinges on Mrs Rinehart’s support.

Hancock said last week that it intended to build its stake to 19.9 per cent, the cusp for launching a rival takeover offer.
The private company controlled by Australia’s richest person said it wanted to provide mining firepower to Liontown’s flagship Kathleen Valley lithium project and indicated an interest in lithium processing, which is Albemarle’s area of expertise.
“Hancock welcomes the opportunity to participate in the Kathleen Valley project as a shareholder, and have an influence on the company’s overall future direction – including where decisions are to be made by shareholders,” Hancock said in its most recent statement on Liontown.
If Albemarle proceeds with its offer, the scheme of arrangement is likely to require support from 75 per cent of votes cast by shareholders.
Based on Hancock an 18.4 per cent stake, it could block any deal in its own right if only 73 per cent of shareholders opt to vote.

Kind regards
rcw1
 
Good morning
It has been reported this morning (12/10/23) via News Corp Media:

Liontown's $6.6bn suitor, global giant Albemarle, wants more time to look through its books as mining billionaire Gina Rinehart muddies the waters.

The lithium hopeful told investors it has agreed to Albemarle's request for a one-week extension of the due diligence arrangement linked to the overseas group's $3 per share proposal.

"Liontown has been advised by Albemarle that, while Albemarle's due diligence is substantially complete, it requires a short extension of the four-week exclusive due diligence period."

It comes a day after Ms Rinehart's Hancock Prospecting moved to a 19.9 per cent ownership stake in Liontown – setting the stage for an interesting shareholder vote on the deal.


Kind regards
Rcw
 
Getting ready to pick up more, on the watch.
 
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