OZ Minerals shares spike

Group downplays speculation Glencore Xstrata is considering a takeover offer.

OZ Minerals (OZL) shares have jumped in morning trade, following speculation over the weekend that global mining giant Glencore Xstrata is considering a takeover bid.

At 1115 AEST, OZ Minerals shares were 4.54% higher at $4.61, against a benchmark index decline of 1.01%.

In a statement to the Australian Securities Exchange, OZ Minerals said it had not received a substantial shareholder notice from Glencore nor had it been been approached by Glencore in regard to any proposal.