We had been hoping to recommend AZS after it signed a transaction implementation agreement with Chile’s SQM, the second-biggest lithium mining company in the world.
With the recent cautionary tale of Liontown Resources (LTR), whose deal with Albemarle (the world’s largest lithium miner) was scuppered by a late blocking stake built by Gina Rinehart, AZS has signed a simultaneous scheme implementation agreement (SIA) and takeover bid, which means that if the preferred scheme of arrangement is blocked – this would be possible with 75% of shares required to be voted to pass the deal – the takeover bid becomes live and this would have no minimum acceptance condition.
