04 Oct, 23

Albemarle’s Liontown Ambitions Challenged By Billionaire’s Bold Move

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In a move designed to thwart a takeover bid by American lithium giant Albemarle Corp (NYSE:ALB), Australia’s richest woman, Gina Rinehart, has once again boosted her position in Liontown Resources Ltd, Bloomberg reports.  This is the fourth time in recent weeks that Rinehart, through Hancock Prospecting Pty, has added to her Liontown Resources stake, which now sits at 14.67%, just shy of the 15% needed to potentially block Albemarle’s ~$4.2-billion takeover bid for the Australian lithium miner. In mid-September, Rinehart owned…

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