USA Rare Earth to acquire LCM for $100M in cash, 6.74M shares of stock

USA Rare Earth (USAR) announced it has entered into a definitive agreement to acquire LCM, the world’s most established ex-China rare earth metal and alloy producer. The acquisition represents a significant acceleration of USAR’s mine-to-magnet strategy, establishing an end-to-end rare earth supply chain. LCM further secures USAR’s access to high-quality rare-earth metal and strip cast alloy for its global customers and the development of its Oklahoma magnet facility. Under the terms of the agreement, USAR will acquire LCM for $100M in cash and 6.74M shares of USAR common stock. LCM is a United Kingdom-based manufacturer of specialized rare earth metals and both cast and strip cast alloys. The transaction is expected to close in the fourth quarter of calendar year 2025, subject to customary closing conditions, including regulatory approval in the UK.