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flag Kenmare Resources rejects a $609.9 million takeover bid, deeming it undervalued.

flag Kenmare Resources, a titanium and zircon miner, rejected a $609.9 million takeover bid from a group led by its founder Michael Carvill and Oryx Global Partners. flag Kenmare said the offer undervalued the company. flag Carvill, who founded Kenmare in 1987 and stepped down last August, owns about 0.3% of the company. flag Kenmare operates a mine in Mozambique and supplies materials used in paints, plastics, and ceramic tiles.

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