Investors of Australian lithium producer Allkem approved the $9 billion merger with US-based Livent, creating a major lithium company.
Proxy votes revealed 89% support from 53% of Allkem shareholders. Livent shareholders are set to vote today.
The merged entity, Arcadium Lithium, spans Australia, Argentina, and Canada, operating throughout the lithium supply chain.
Under the proposed merger, Allkem shareholders will receive one Arcadium Lithium share per share, owning 56% of the new firm.