t/a portman, page-3

Romours of a take over as well.


May 10 (Bloomberg) -- Portman Ltd., Australia's third- largest iron ore exporter, may face a A$280 million ($197 million) takeover bid from interests associated with Asian businessman Lee Ming Tee, the Sydney Morning Herald reported.

Lee owns at least 8 percent of Portman, making him the single biggest shareholder, the newspaper said, without saying where it got the information. Lee is expected to disclose his stake today, the newspaper said.

Portman will appoint advisers and tell shareholders not to sell their shares without knowing what Lee's intentions are, the newspaper said.