Sierra Rutile says no longer in takeover talks

April 28 Mon Apr 28, 2014 3:24am EDT

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April 28 (Reuters) - Mineral sands group Sierra Rutile Ltd said it was no longer in takeover talks with interested parties.

The company, which mines 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. (Reporting by Karen Rebelo in Bangalore; Editing by Gopakumar Warrier)

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