Kenmare's shares sink as it ends talks with consortium

Kenmare's shares sink as it ends talks with consortium

Shares in Titanium and zircon miner Kenmare Resources fell today after it said it had terminated offer talks with a consortium made up of Oryx Global Partners Limited and former managing director and founder Michael Carvill.

Miner Kenmare definitively rejects takeover bid

Kenmare Resources, the Irish-registered company that mines heavy mineral sands in Mozambique, has definitively rejected the takeover bid by a consortium formed by investment firm Oryx Global Partners Limited and former Kenmare head Michael Carvill, claiming the offer was too low.

Kenmare takeover talks end after consortium lowered offer

TAKEOVER discussions between Kenmare Resources and a consortium that included its former managing director ended in failure, the parties said on Thursday. “Following a comprehensive due diligence process and after accounting for its findings, the Consortium was unable to reach alignment with Kenmare on its updated valuation and as a result the Consortium has ceased engagement,” said Oryx Global Partners. Oryx and Michael Carvill tabled a lower, …