Lithium Australia NL's (ASX:LIT) takeover bid for Lepidico (ASX:LPD) continues to advance, with LIT advising of a Notice of Status of Defeating Conditions.
The take-over offer is currently scheduled to close on Tuesday, 18 April 2017, unless extended or withdrawn.
The off-market scrip bid of A$23.8 million is for all of the fully paid shares in Lepidico.
The new entity would be the holder of one of the largest lithium exploration and development portfolios in the world.