Takeover suitors are stalking the $560 million mining equipment rental group Emeco, sending its shares sharply higher.

The Perth-based group confirmed on Monday it had been approached by potential buyers, though none had put forward any proposals capable of being considered by Emeco’s board.

Its shares jumped as much as 9 per cent at the open to a four-year high of $1.20.

“Emeco confirms that it has received unsolicited interest from a number of potential acquirers and has had discussions with those parties,” it told investors.

“However, at this time, no party has put forward a proposal which warrants being progressed to a binding proposal.

“Emeco will keep shareholders informed of any material developments as appropriate.”

The company is particularly exposed to a bid given its major

See Full Page