ADELAIDE, Australia—Lithium producers Livent and Allkem said they had agreed to a merger that will create a global mining company worth $10.6 billion, illustrating how a surge in demand for the battery mineral used in electric vehicles is sparking a rush to do deals.
The all-stock transaction will result in shareholders of U.S.-based Livent owning around 44% of the combined company, with shareholders of Australia-listed Allkem holding the remaining stock, the companies said in a joint statement Wednesday. The enlarged company will have its headquarters in North America, and a primary listing on the New York Stock Exchange.
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