Trade in Sydney-based hazardous waste management company Dolomatrix International Ltd rose 19 per cent in early trade today, on speculation of a merger between the company and Kwinana-based Tox Free Solutions Ltd.
Fairfax media reported the company had recently emerged from a management reshuffle and withdrawn from a deal to purchase a Taiwan business.
But yesterday the company hit back, saying that no offer had been recieved, nor any negotiations entered into.
That didn't stop its share price rising from 54 cents to 66 cents by close of trade that day.
Dolomatrix shares were trading at 75 cents at 11:30 WST.
Tox Free shares were down 2 per cent to $2.34
The full text of yesterday's announcement is pasted below
Sydney, Wednesday, 23rd May 2007
The Board of directors Dolomatrix International Limited has been referred to an article on page 18 of the Australian Financial Review speculating on a merger between Tox Free Solutions and the Company. We repeat the denial of an earlier announcement, namely that no offer has been received, nor have any negotiations been entered into.
