Shareholders of lithium producer Allkem are encouraged to support the $9 billion merger with US-based Livent, as proxy adviser Glass Lewis recommended.
Despite concerns raised by some fund managers seeking a more significant share for Allkem shareholders, Glass Lewis sees a "natural fit" between Allkem's lithium extraction focus and Livent's processing and refining capabilities.
Both companies have experienced a 40% decline in value since the merger announcement in May.
The proposed "merger of equals" would create Arcadium Lithium, positioning Allkem investors to hold approximately 56% of the combined group.
The vote is scheduled for Dec. 19, requiring at least 75% support to succeed.