ASX lithium heavyweights Galaxy Resources Limited (ASX: GXY) and Orocobre Limited (ASX: ORE) are the latest ASX mining shares to join hands and emerge as a global mining heavyweight.
Under the Scheme of Arrangement, Orocobre will acquire 100% of the shares in Galaxy. The combined group will create the fifth-largest global lithium chemicals company.
This follows the Northern Star Resources Ltd (ASX: NST) and Saracen Mineral Holdings (ASX: SAR) merger which saw the combined group climb the rankings to emerge as a global top 10 gold producer.
Big brokers have digested yesterday’s news and provide their opinions below.
Brokers weigh in on the Galaxy and Orocobre merger
Brokers are largely positive about the merger. However,…