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Lithium Australia NL outlines key date in takeover bid

The new entity would hold one of the largest lithium portfolios in the world.
Lithium Australia NL outlines key date in takeover bid
LIT has entered into agreements with Lepidico shareholders

Lithium Australia NL (ASX:LIT) has advised that the date set by the company for the purpose of determining the Lepidico (ASX:LPD) shareholders to whom the Bidder’s Statement will be sent is 3 March 2017.

LIT recently outlined a conditional off-market scrip bid of A$23.8 million for all of the fully paid shares in Lepidico.

The basis of the offer will be one LIT share for every 13.25 Lepidico shares.

LIT wholly-owns the Sileach™ and LieNa™ processes.

The new entity would be the holder of one of the largest lithium exploration and development portfolios in the world.


Analysis

Driven by rising demand from new era Li-ion battery manufacturers, the combined entities would be able to offer a wide range of lithium technology solutions to match specific lithium deposits.

A combined group would be able to offer both Sileach™ and L-Max in the world’s most active jurisdiction for lithium, Western Australia, and be able to optimise emerging commercial opportunities for lithium projects worldwide.



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