MELBOURNE, Oct 30 (Reuters Breakingviews) - Lithium M&A is becoming a dangerous sport Down Under.
On Friday, Hancock Prospecting, owned by Australia’s richest person Gina Rinehart, revealed it had snapped up an 18.3% stake in Azure Minerals (AZS.AX).
Unlike Albemarle, it has not tied its hands by declaring the Azure bid to be its best and final offer.
But SQM boss Ricardo Ramos can switch to an off-market offer and try to buy other investors’ stakes first.
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Persons:
Hancock, Gina Rinehart, Chile’s, Rinehart, Albemarle, SQM, Ricardo Ramos, Antony Currie, Peter Thal Larsen, Thomas Shum
Organizations:
MELBOURNE, Reuters, Australia’s, Minerals, Australian, Liontown Resources, Canaccord, X, Thomson
Locations:
Western Australia, Liontown