Latham & Watkins Advises USA Rare Earth in Acquisition of Less Common Metals

USA Rare Earth, Inc. (Nasdaq: USAR) announced that it has entered into a definitive agreement to acquire 100% of the equity interests of Less Common Metals (LCM) for stock and cash consideration. USAR’s acquisition of LCM is a key step in USAR’s “mine-to-magnet” strategy through which it is building an end-to-end rare earth supply chain. LCM is a United Kingdom-based manufacturer specializing in the manufacture of rare earth metals and cast and strip cast alloys. With over three decades of experience LCM has become one of the world’s most established ex-China rare earth metal and alloy producers. Through the acquisition, USAR further secures access to high-quality rare-earth metal and strip cast alloy for its global customers and the development of USAR’s Oklahoma magnet facility. The transaction also expands USAR’s expansion plans, with an increased presence in the United Kingdom and Europe.
 
Latham & Watkins represents USAR in the transaction with a corporate team lead by Los Angeles partners Steven Stokdyk and David Zaheer, with associates Zainab Hashmi, David Lee and Diego Guimarães-Blandón.  Advice was also provided on tax matters by Los Angeles partner Eric Cho, Los Angeles counsel Changsheng (Eric) Song, with associates Ryan Brenner and Chris Zhao; on United Kingdom compensation matters by London partner Kendall Burnett, with consultant Rebecca Fielding; on United States compensation matters by Bay Area partner Maj Vaseghi, with associate Will Fowler; on intellectual property matters by New York partner Jessica Cohen, with associate Laura Geraci; on environmental matters by Los Angeles partner Aron Potash, with associates Phil Goldberg and James Bee; on antitrust matters by Washington D.C. partner Patrick English, with associate Ben Bouwman; on United Kingdom national security and foreign investment matters by London partner Jonathan Parker, with associates James Mathieson and Nayantara Mukerji; and on Singapore matters by Singapore partner Farhana Sharmeen, with associate Kay Howe Lee.