Lepidico (ASX:LPD) rejects Lithium Australia takeover


by Carolyn Herbert

Lepidico Limited (ASX:LPD) Managing Director Joe Walsh discusses the company's rejection of the Lithium Australia takeover and Lepidico's key objectives for 2017.

Lepidico's share price has performed relatively well, but I believe it has been arguably held back by this grossly inadequate offer by Lithium Australia (ASX:LIT).

Our share price is up 25 per cent since the offer was announced, and unfortunately for Lithium Australia their share price is down by an equivalent 25 per cent.

The take-up of the Lithium Australia offer has been minimal and almost embarrassingly so. Just 0.26 per cent of Lepidico shareholders have accepted the offer that aren't subject to pre-bid agreements. The shareholders have been extremely supportive of the board and the company strategy.   

Carolyn Herbert

Finance News Network
Carolyn joined FNN in August 2015 as the Head of News and also presented the Market at Midday and the Market Wrap. With more than five years of broadcast journalism experience, Carolyn has worked as a finance anchor on the Sky News Business channel and as an anchor and reporter for ABC News. She is also a qualified corporate lawyer specialising in IPOs, takeovers and mergers and acquisitions.