Rinehart snares big stake in Lynas Rare Earths

News Snapshot:

Australia’s biggest private company did not respond to a request for comment. Lynas shares, which were trading near a two-year low of $5.49 in late March, closed at $6.09 on Tuesday. The Australian Financial Review revealed the merger talks between Lynas and MP Materials on February 2, with Lynas later confirming there had been discussions about a bid to unite the Western world’s two biggest producers of rare earths vital to the defence, electronics and renewables industries. There was speculation around the time of the report that Mrs Rinehart was willing to back a deal between Lynas and MP Materials....