Kenmare Resources in revised bid from Australia’s Iluka

Revised proposal would trade 0.016 share of Iluka for every Kenmare share

Kenmare Resources will work with  Iluka  in the interests of its shareholders. Picture: Reuters

Kenmare Resources will work with Iluka in the interests of its shareholders. Picture: Reuters

 

Irish titanium miner Kenmare Resources said it had received a revised bid from Iluka Resources and that it would work with the Australian company on the proposal in the interests of its shareholders.

Kenmare said the revised proposal would trade 0.016 share of Iluka for every Kenmare share.

Kenmare rejected Iluka’s offer of 0.036 new Iluka share for each Kenmare share in June 2014.

Both shares have fallen since then.

- Reuters