India, June 23 -- U.S. uranium miner Energy Fuels Inc. J (UUUU,EFR.TO) announced on Tuesday that it has agreed to acquire German magnet maker Vacuumschmelze or VAC from private equity firm Ara Partners for about $1.9 billion in cash and stock, aiming to build a Western mine-to-magnet rare earth supply chain.
The transaction values VAC at $1.9 billion based on Energy Fuels' closing share price of $16.12 on June 22, and includes $718 million in cash and 65.853 million newly issued Energy Fuels shares.
VAC, with over 100 years of operating history, produces rare earth permanent magnets and soft magnetic materials at facilities in North America, Europe and Asia. Its Sumter, South Carolina plant has capacity for 2,000 tonnes per year of perman...