Energy Fuels (UUUU) signed a definitive agreement to acquire German magnet manufacturer Vacuumschmelze (VAC) for approximately $1.9 billion. The transaction includes $718 million in cash. Energy Fuels will issue approximately 65.9 million new shares to complete the deal. The acquisition is expected to close in early 2027 following regulatory approvals.
The deal creates a fully integrated, US-centric mine-to-magnet supply chain for rare earth elements. The merger combines Energy Fuels' mining assets with VAC's advanced permanent magnet manufacturing. These magnets support critical applications in the defense, automotive, and technology sectors. This strategic move aims to reduce global reliance on Chinese rare earth supplies.