Law360, New York (March 09, 2012, 12:48 PM ET) -- Rare earth oxide producer Molycorp Inc. is scooping up similar company Neo Material Technologies Inc. for about $1.3 billion to boost its access to China, which accounts for roughly 70 percent of global rare earth consumption, the companies announced Friday.
Colorado-based Molycorp said the cash and stock deal would also allow it to tap Neo's product development and processing strengths and expand its portfolio with rare metals used in the advanced electronics, photovoltaic and aerospace industries, among others.
Under the agreement, shareholders of Toronto, Canada-based Neo...
Jones Day, McCarthy Help In $1.3B Merger Of Rare Earth Cos.
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