Molycorp Prime for Takeover

Bloomberg reported that Molycorp’s major losses in 2012 and low valuation are making it an attractive takeover target.

As quoted in the market report:

The owner of the biggest U.S. deposit of metals that go into everything from smartphones to solar panels and hybrid cars handed investors losses of 61 percent in 2012 amid a slump in rare-earth prices, cost overruns at its California mine, a regulatory probe and the departure of its chief executive officer. Even after the shares rebounded from a record low in November, Molycorp is trading at a 19 percent discount to its book value, according to data compiled by Bloomberg.

To view the whole Bloomberg report, click here.