Shares of Liontown Resources (ASX:LTR), an Australian company, fell up to 4.11% to A$2.8, recording their lowest value since September 7th.

The stock had its largest intraday percentage decrease since September 1st, marking a second consecutive session of losses.

Liontown, a producer of battery minerals, announced that it would prolong its exclusive due diligence period by one week for its proposed A$6.6 billion ($4.23 billion) buyout by U.S-based company, Albemarle.

A total of 3.9 million shares changed hands, in comparison to the 30-day average volume of 24.2 million shares.

Despite the current fall, the stock has increased by over 120% year-to-date as of the last close, according to the analysts' average ratings which is equivalent to a ‘hold’, and their median price target which is A$3.00.

Liontown Resources is an Australia-based company that mainly focuses on the production of battery minerals.