Sierra Rutile in takeover talks

19th Nov 2013 13:47

Sierra Leone-focused mineral producer Sierra Rutile is in talks about potential takeover bids, sending its shares up by more than a quarter.The group, which produces titanium feedstock industrial minerals such as rutile and ilmenite, responded to speculation by saying it was "in discussions with potentially interested parties which may or may not result in an offer being made for the company"."There can be no certainty that an offer will be made or as to the terms of any such offer, should one be forthcoming. A further announcement will be made as and when appropriate," it said in a statement.The group has appointed RBC Capital Markets to act as its financial adviser in connection with the potential sale.PW