Lithium Giant Albemarle Extends Due Diligence on Liontown (1)

Lithium giant Albemarle Corp. has been granted a short extension to wrap up its due diligence of Liontown Resources Ltd. for a proposed A$6.6 billion ($4.2 billion) takeover of the Perth-based company, with the success of the deal now looking like it will hinge on the next move of Australia’s richest woman.

Liontown said in a statement that it had agreed to extend the deadline by seven days following a request from Albemarle, and acknowledged that due diligence was at this stage “substantially complete.”

Due diligence had previously been scheduled to end this week. Liontown’s shares fell as much as ...