re: any further info ? Titan talking to other takeover...

re: any further info ? Titan talking to other takeover partners
May 3, 2006 - 4:19PM

Takeover target Titan Resources says it is in talks with another party about an alternative to the takeover bid from Consolidated Minerals Ltd.

Consolidated made a bid for Titan at the end of March, offering one of its shares for every 35 Titan shares held, then valuing Titan shares at 7.77 cents.

Titan said it was in talks with a party which has provided an alternative to the offer.

"The independent directors are considering the terms of the proposal and in the meantime continue to strongly recommend shareholders take now action in relation to the Consolidated offer," Titan said.

Consolidated already holds a 19.9 per cent stake in Titan, which it built up during the first half of 2005.

It has also previously considered a $94 million cash and scrip takeover bid for Titan in 2004, but decided not to proce