Rinehart buys more Liontown as Albemarle deadline nears
Peter KerResources reporter
Australia’s richest person, Gina Rinehart, has increased her potential blocking stake in takeover target Liontown Resources, declaring herself to be the lithium developer’s biggest shareholder on the eve of an important update about a $6.6 billion takeover offer.
US company Albemarle was due to complete four weeks of due diligence on Liontown on Friday, meaning it will likely clarify within days whether it will push ahead with its preliminary proposal to pay $3 for each Liontown share.
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