Thomson Financial reported that Eramet will ask shareholders at an EGM on April 16th 2008 to approve motions giving the board new powers to act in defense of the company in the event of a takeover bid.

As per report, the measures would include allowing the directors to issue new shares equivalent to up to 10% of capital.

Eramet shares have soared by 250% from a low of EUR 135 last March, lifted by a sharp rise in manganese prices but also by takeover speculation amid talk that the Duval family may sell its 37% stake.

Areva, with 26%, has been seen as the likeliest bidder.