Davis Polk advised FMC Corporation in connection with the spinoff of its 123,000,000 shares of common stock of Livent Corporation (NYSE: LTHM) as a pro rata stock dividend to FMC’s shareholders. Following its initial public offering in the fourth quarter of 2018, Livent Corporation has been the owner and operator of the lithium business previously owned by FMC.

FMC Corporation provides solutions to growers around the world with a portfolio of proprietary crop protection products and a robust pipeline fueled by innovative discovery and development capabilities in crop protection, plant health and professional pest and turf maintenance solutions. For more than six decades, Livent Corporation has partnered with its customers to safely and sustainably use lithium to power the world. Livent is one of only a small number of companies with the capability, reputation and know-how to produce high-quality finished lithium compounds that are helping meet the growing demand for lithium. The company has one of the broadest product portfolios in the industry, powering demand for green energy, modern mobility, the mobile economy and specialized innovations, including light alloys and lubricants. Livent employs approximately 800 people throughout the world and operates manufacturing sites in the United States, England, India, China and Argentina.

The Davis Polk corporate team included partner William H. Aaronson and associate W. Soren Kreider IV. The capital markets team included partner Michael Kaplan and associate John H. Runne. Partners Neil Barr and Rachel D. Kleinberg provided tax advice. Partner Kyoko Takahashi Lin and associate Travis Triano provided executive compensation advice. Partner Pritesh P. Shah and associate Tilak Koilvaram provided intellectual property and technology advice. Members of the Davis Polk team are based in the New York and Northern California offices.

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