July 15, 2020
Weil is advising Fortress Value Acquisition Corp, a SPAC sponsored by an affiliate of Fortress Investment Group LLC, in its pending acquisition of Secure Natural Resources and MP Materials, together the owner and operator of Mountain Pass, the only rare earth mining and processing site of scale in North America that contains one of the richest rare earth deposits in the world, via a stock-for-stock transaction that values the combined company at $1.5 billion. The transaction is expected to close in the fourth quarter of 2020, subject to regulatory approval and other customary closing conditions.
The Weil team advising Fortress is led by Mergers & Acquisitions partner Jackie Cohen and includes Mergers & Acquisitions associates Kevin Kitson, Joseph Godio and Alex Walsh. The team also includes Tax partner Mark Schwed; Executive Compensation & Benefits head Paul Wessel; Capital Markets head Alexander Lynch; Public Company Advisory Group partner Adé Heyliger; Technology & IP Transactions partner Karen Ballack; International Arbitration & Trade partner Ted Posner; Environmental head Annemargaret Connolly; Capital Markets counsel Peter Byrne; Real Estate attorney Leslie Smith; Environmental counsel John O’Loughlin; Antitrust counsel Alexis Brown-Reilly; Tax associate Michael Rivkin; Executive Compensation & Benefits associates Amanda Rosenblum and Radhika Tahiliani; Public Company Advisory Group associate Kaitlin Descovich (Admitted in New York Only); Technology & IP Transactions associates Jillian Richardson and Alexa Clinton (Admitted in California Only); and Cybersecurity, Data Privacy & Information associate Robert Brown.