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    market news

    Molycorp Completes Takeover of Neo Material

    Investing News Network
    Jun. 11, 2012 06:04PM PST
    Rare Earth Investing

    Reuters reported that Molycorp’s (NYSE:MCP) takeover of Neo Material (TSX:NEM) is now complete.

    Reuters reported that Molycorp’s (NYSE:MCP) takeover of Neo Material (TSX:NEM) is now complete.

    As quoted in the market news:

    The cash-and-stock deal, worth roughly C$1.2 billion ($1.17 billion), also gives Molycorp access to Neo’s valuable rare earth patents as well as a toehold in China – the world’s top rare earth producer and consumer.

    Click here to read the full Reuters report.

    nyse:mcpmarket newschinatsx:nem
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