S&P Dow Jones Indices has announced that lithium company Livent will be included in the prestigious S&P MidCap 400 index starting from January 2, 2024. The company will replace NCR Voyix, which will move to the S&P SmallCap 600 index.
Merger with Allkem
Livent is preparing to merge with Allkem, forming a powerful entity called Arcadium Lithium. Once the merger is finalized, Arcadium Lithium will be listed on the New York Stock Exchange under the ticker symbol ALTM. The completion of the merger is expected around January 4, according to S&P Dow Jones Indices, which also noted that Livent will continue as the surviving entity.
Strategic Changes in Indices
S&P Dow Jones Indices explained that NCR Voyix, the software company, better aligns with the small-cap market space, hence its move to the S&P SmallCap 600 index.
Rush Enterprises to Join S&P SmallCap 600
In addition to the changes mentioned above, Rush Enterprises, a prominent truck retailer, will enter the S&P SmallCap 600 index as of January 2. This move comes as RPT Realty is being acquired by Kimco Realty, with the deal set to close around the same time, according to S&P Dow Jones Indices.