After its $6.6 billion takeover bid for Liontown Resources was thwarted by Gina Rinehart, NYSE-listed lithium company Albemarle has moved to sell its entire 4% stake in Liontown.

JPMorgan's ECM team facilitated the sale of $120 million worth of Liontown shares through a variable price bookbuild, ranging from $1.26 to $1.32 per share.

The divestment marks the conclusion of Albemarle's year-long struggle to acquire Liontown, which initially rebuffed premium offers at $2.20, $2.35, and $2.50 per share.

Despite a final $3 bid gaining access to Liontown's books in September, Gina Rinehart's stake acquisition thwarted Albemarle's takeover plan, leading to the withdrawal of the proposal in mid-October.

JPMorgan and Barrenjoey advised Albemarle, while Greenhill & Co and UBS worked with Liontown.