June 3 (Reuters) - Mercantile Investment Company Ltd MVT.AX :
* INTENTION TO MAKE TAKEOVER OFFER RECEIVED FROM SANDON CAPITAL
* SANDON CAPITAL INVESTMENTS PROPOSES TO ACQUIRE ALL SHARES IN CO NOT ALREADY OWNED IN EXCHANGE FOR ISSUE OF SHARES IN SANDON
* SANDON ANNOUNCED AGREEMENT TO ACQUIRE UP TO ABOUT 53 MILLION MERCANTILE SHARES FROM SIBLOW PTY
* MERCANTILE SHAREHOLDERS ARE ADVISED TO TAKE NO ACTION AT THIS STAGE