Kenmare rejects Iluka takeover bid

By Siobhan Lismore-Scott
Published: Thursday, 26 June 2014

The offer is significant for two reasons, firstly it underscores that despite a difficult trading environment and issues with power, Iluka, the world’s largest mineral sands miner, sees value in Kenmare. It also emphasises Iluka’s determination to continue to expand its own operations, despite a weak TiO2 market

Kenmare Resources has been approached by mineral sands mining giant Iluka in a potential takeover offer, but has rejected it.

In a stock filing Kenmare confirmed that it had received an offer from Iluka and said it was based on a share for share exchange, with no cash component, with...

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