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Mergers & Acquisitions

Wesfarmers makes unsolicited bid for rare earths producer Lynas

by Melody M. Bomgardner
March 29, 2019 | A version of this story appeared in Volume 97, Issue 13
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The Australian conglomerate Wesfarmers has made an unsolicited bid worth $1.1 billion for the rare-earths producer Lynas, also based in Australia. The bid represents a 45% premium to Lynas’s share price prior to the announcement. Lynas produces neodymium-praseodymium, mined from lanthanide deposits at its Mount Weld site in Western Australia and purified in Malaysia. Nd-Pr is critical for making strong magnets used in electric motors and generators. Lynas’s board says it will reject the proposal, calling it “highly conditional.”

Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society

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