It would be interesting to see how far the new bidder gets. Liontown did not disclose Albemarle’s approaches for nearly four months, only to knock the third offer down despite the 67 per cent premium.
Albemarle’s due to hold a quarterly results call on May 3, and attendees should have a question or two about the NYSE-listed giant’s run at Liontown.
Over in IPO land, we spotted Molycop bringing in Goldman Sachs for a mooted $2 billion odd float, just as 7-Eleven gave up on its listing dreams and had Azure formally open a sale process.
Fingers were pointing to Credit Suisse, whose equity capital markets team has been the top broker buying up the lithium hopeful’s shares for the past month.
American Industrial Partners snapped up the company, the crown jewel of the Arrium empire, for $1.6 billion in 2016. It is hoping for an IPO worth $2 billion.
The gas pipelines giant has Morgan Stanley on standby as it weighs up whether it will enter the race for the Pilbara generation and transmission portfolio.
High-profile fundie Jack Collopy is heading for the exit after 20-plus years, marking the latest portfolio manager to call time since the firm’s merger with Pendal.
