UK's Adriatic Metals in takeover talks with Dundee Precious Metals

May 20 (Reuters) - UK's Adriatic Metals ADT1.L said on Tuesday it was in talks with Canadian peer Dundee Precious Metals DPM.TO regarding a possible takeover.

Sky News, which first reported about the potential talks earlier in the day, said a deal could value the British firm at about 700 million pounds ($935.3 million), citing bankers.

Adriatic Metals said it has provided Dundee access to limited due diligence information.

Dundee is required to provide a firm offer or walk away from the talks by June 17, under the UK takeover rules.

($1 = 0.7484 pounds)