Iluka’s Kenmare bid collapses

By Myles McCormick
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 filed...

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