The two companies have officially completed the highly-anticipated merger to become Arcadium Lithium.
Allkem and Livent shareholders voted in favour of the merger late last month, and began operating as one $US9.7 billion ($14.3 billion) powerhouse as of yesterday, January 4.
The new, combined company, dubbed a “merger of equals” is set to become a leading global lithium chemicals producer.
Separately, the companies garnered roughly $US1.9 billion of combined total revenue in 2022 with a global team of more than 2600 employees.
“As one of the leading global producers of lithium chemicals, Arcadium Lithium has the resources, scale and expertise to meet the growing needs of our rapidly changing industry,” Arcadium chief executive officer Paul Graves said.
“We are a leader in every major lithium extraction process– from hard rock mining to conventional pond and direct lithium extraction-based brine processing– and vertically integrated, from resource to chemical manufacturing, in strategic locations around the world.
“This will open doors to new opportunities and strengthen our ability to deliver value to our customers, investors, employees and communities.”
Arcadium Lithium ordinary shares will begin trading today on the New York stock exchange (NYSE) and will maintain a foreign exempt listing on the ASX.
“It is a privilege for me to lead this great company forward with such an incredible team,” Graves said.
“This transformational merger would not have been possible without the hard work and commitment of our integration planning teams over the past months. I want to thank them and all of our employees around the world for getting us to this position.
“Together, we are launching an exciting new company that combines the strengths and storied legacies of two incredible organisations, both with an unwavering commitment to safe, responsible, and sustainable operations.
“We look forward to building on this strong foundation and leading our industry forward.”
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.
