SYDNEY -- Australian group Wesfarmers announced an offer Tuesday to acquire compatriot Lynas, one of the few non-Chinese suppliers of rare earths, returning to a purchase mode after a spate of recent asset disposals.
The bid, which Lynas said was unsolicited, is worth 1.5 billion Australian dollars ($1.06 billion), according to local media. This represents a 45% premium over the miner's last closing price. Lynas said it is "assessing" the proposal.
