USA Rare Earth Inc. agreed to acquire Serra Verde Group in a cash-and-stock
transaction valued at about $2.8 billion. The deal includes $300 million in cash
and roughly 126.8 million shares, and is expected to close in the third quarter.
Serra Verde owns a large rare-earth mine in Brazil, and the acquisition comes as
the U.S. and its allies seek to secure alternative supplies of rare-earth
elements used in electronics, autos and defense.