Status:  Upcoming/New filing

Acquirer: Lightning-A Limited (Bailiwick of Jersey)

Acquired: Livent Corporation (U.S.); Allkem Limited (Australia)

Value: $10.1 billion

Industry Tags: Mining and Extraction; Lithium

On May 10, 2023, Australian publicly traded company Allkem Limited (ASX:AKE) and U.S. publicly trade Livent Corporation (NYSE:LTHM) “announced the signing of a definitive agreement . . .  to combine the two companies to create a leading global lithium chemicals producer . . .” (Press Release, Livent Corp. Form 8-K, Ex-99.1, May 10, 2023, SEC Filing.)  “Livent is a global leader in lithium processing technologies . . . [and] Allkem brings complementary expertise in conventional brine-based lithium extraction, hard rock mining, and lithium processing.” (Id.)  The post-transaction ownership of the new company, “Lightning-A Limited, a limited company incorporated under the Laws of the Bailiwick of Jersey,”  will be held ~56% by Allkem shareholders and ~44% by Livent shareholders. (See Investment Presentation, Livent Corp. Form 8-K, Ex-99.2, May 10, 2023, SEC Filing.)  CFIUS Approval is a condition of closing the transaction.  (See Exhibit B, Transaction Agreement, Livent Corp. Form 8-K, Ex-99.1, May 10, 2023, SEC Filing.)