Allkem and Livent have announced a definitive agreement to combine in an all-stock merger to create a leading lithium chemicals extraction and processing company valued at $10.6 billion at current stock values. The proposed merger was unanimously accepted by the boards of both companies and the transaction is expected to close by the end of 2023. The new company is expecting to be able to produce 250 ktpa (kilotons per annum) of lithium carbonate equivalent (LCE) by calendar year 2027. It also expects to be able to make up to $200 million in asset savings, primarily due to the proximity of current facilities in Argentina and Canada that will now be shared. Livent claims that the merger creates a “leading…