Orica， the world's biggest maker of explosives， yesterday rejected a A$9.95bn (US$8.3bn) bid from a group of buy-out firms led by Bain Capital Partners and Blackstone Group.

　　The consortium offered A$32 cash a share， a premium of 15 per cent over the closing share price on Tuesday. Still， Orica shares soared 20 per cent to a record A$33.50 amid speculation that the bid would be raised.

　　Don Mercer， Orica chairman， said the offer “significantly undervalues” a company that was not up for sale.

　　世界最大的炸藥生產商Orica昨日拒絕了99.5億澳元（合83億美元）的收購報價。提出該報價的是由Bain Capital Partners和黑石集團牽頭的財團。

　　該財團的出價為每股32澳元現金，比Orica周二的收盤價高出15%。不過，因市場推測收購報價會上調，Orica股價已飆升20%，至33.50澳元。

　　Orica董事長當·默瑟表示，該報價“嚴重低估”了這家未打算出售的公司的價值。