FMC Corporation (FMC) announced that its Board of Directors has approved the distribution of all of its remaining interest in Livent (LTHM) to FMC stockholders, payable on March 1, to shareholders of record as of 5:00 p.m. EST on February 25. Subject to the conditions described below, the FMC Board of Directors has authorized the distribution to FMC stockholders of an aggregate of 123,000,000 shares of Livent common stock on March 1, the distribution date, as a pro rata dividend on shares of FMC common stock outstanding at the close of business on the record date of February 25. Based on the number of shares of FMC common stock outstanding as of December 31, 2018, FMC estimates that each share of FMC common stock will receive approximately 0.9304664 shares of Livent common stock in the distribution. The actual distribution ratio for the Livent common stock to be distributed per share of FMC common stock will be determined based on the number of shares of FMC common stock outstanding on the record date. The Distribution is subject to certain customary conditions, including receipt of a customary tax opinion and confirmation of sufficient capital adequacy and surplus to make the distribution. FMC expects all of these conditions to be satisfied on the distribution date.
