Iluka’s Kenmare bid collapses
Published: Monday, 07 December 2015
Kenmare’s largest shareholder has indicated that it will not accept Iluka’s takeover proposal, leading Iluka to decide against making a concrete offer for the Irish mineral sands producer. Kenmare will now look to the market as it attempts to its cut debt at the behest of its lenders.
ASX-listed Iluka Resources Ltd has
terminated takeover talks with Kenmare Resources Plc –
listed on the London and Irish stock exchanges –
following an indication by the Dublin-headquartered miner that
its largest shareholder would not accept Iluka’s
most recent non-binding offer.
Under Rule 2.8 of the Irish Takeover Rules, Iluka today