CAPITAL MARKETS

Consolidated Rutile rejects Iluka's overtures

NORTH Stradbroke Island mineral sands miner Consolidated Rutile has rejected a $98.5 million off-market bid by Iluka Resources for the 56.7% of the company it does not already own.

Greg Tubby

Consolidated Rutile's independent directors said independent expert Deloitte Corporate Finance valued the company at $1.19 per share, compared with Iluka's $1.00 a share offer. The rejection of its overtures...

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