Miner Kenmare Rebuffs Takeover Attempt by Former Executive
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Kenmare Resources Plc shares surged as much as 52% after the titanium minerals producer rebuffed a takeover offer made by a former executive at a hefty premium.
The Dublin-based miner’s board unanimously rejected a non-binding proposal from a consortium comprised of Oryx Global Partners and former managing director Michael Carvill at 530 pence per share, saying it “undervalued Kenmare’s business and its prospects,” according to a Thursday statement.