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Sierra Rutile says no longer in takeover talks

29th April 2014

By: Reuters

  

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Mineral sands group Sierra Rutile Ltd said it was no longer in takeover talks with interested parties.

The company, which mined rutile in the south west of Sierra Leone, said the indications of interest including those exceeding its market capitalisation, did not offer sufficient value to shareholders, given the strong outlook for the company.

Rutile is one of a group of titanium dioxide minerals mostly used in the manufacture of white pigment for paint, plastics and paper industries.

In November the company said it was in takeover talks with unnamed parties.

Edited by Reuters

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