Rinehart may block SQM $1bn takeover of Azure Minerals

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Rinehart may block SQM $1bn takeover of Azure Minerals
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Albemarle’s attempt to buy Liontown Resources , is now said to be evaluating ways to block Chilean lithium giant SQM’s A$1.63 billion bid for Azure Minerals .The proposed deal, in the works since SQM acquired in March a 19.99% stake in Azure for A$20 million, has two layers.

Azure Minerals, which owns around a 60% stake in the Andover lithium project in Western Australia’s Pilbara region, said its board unanimously supports the agreement. The big question is what influence Rinehart’s Hancock Prospecting, which owns a 19.9% stake in Azure, could exert on SQM’s bid. , speculate she will likely have to duel it out with SQM on market. Others indicate that millionaire prospector Mark Creasy, a major shareholder in Azure with a 13.2%, is, a closer look at the conditions for each layer of SQM’s offer shows that no shareholder, other than the Chilean miner, can acquire more than a 19% interest in Azure.

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