$AKE today announces a merger with US-listed Livent. The deal is touted as a merger of equals, merger ratio = 56% $AKE and 44% Livent.

Fascinating listening to the call with the Aussie-based analysts, many of whom appear to consider the merger ratio has undervalued $AKE relative to Livent.

The primary industrial logic for the deal is a more geographically-diversified company, across more parts of the Lithium value chain and technologies, giving greater growth optionality, operational efficiency and security of supply to customers.

Opex and Capex synergies to be achieved over 3 years appear reasonable.

Newco Chair will be Peter Coleman ($AKE), but the CEO and CFO roles go to Livent, with a primary listing on the NYSE and CDIs on ASX. $AKE CEO is staying on as a consultant for a period, and then will depart.

In summary, the vibe on the call was that this is a Livent takeover. Interesting to see the Aussie analyst broker notes following the call and how the $AKE shareholders vote in the coming months.

Shares up 14% in the first hour of trading.

Disc: Held IRL (1.2%)