Wesfarmers is believed to have held talks with Lynas Corporation about a joint venture project in Australia for several months before it lobbed a $ 1.5 billion takeover for the company.It is understood that Lynas (LYC) was considering a plan to open another plant in Australia that would be jointly owned with the Perth-based conglomerate (WES) should it need to close down its Malaysian operations.The company is in disagreement with the Malaysian government over the storage of waste material at the Lynas Advanced Materials Plant.However, it is understood that the Lynas board dragged its feet on the Australian move.
Sad to read the LYC board are resistant to moving the LAMP. The positive about a WES owned LYC is they have the means and WA government support to start building a LAMP here tomorrow.
Ann: Unsolicited Conditional Proposal from Wesfarmers, page-8
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