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Kenmare Resources rejects a $609.9 million takeover bid, deeming it undervalued.
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.
Kenmare said the offer undervalued the company.
Carvill, who founded Kenmare in 1987 and stepped down last August, owns about 0.3% of the company.
Kenmare operates a mine in Mozambique and supplies materials used in paints, plastics, and ceramic tiles.
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Kenmare Resources rechaza una oferta de adquisición de $609.9 millones, considerándola infravalorada.