(Corrects to show company is Australian-listed, not Australian)

SYDNEY, Dec 15 (Reuters) - Australian-listed data storage company Recall Holdings said it rejected a A$2.2 billion ($1.82 billion) takeover offer from larger United States rival Iron Mountain Inc, saying the offer price did not reflect the potential merger benefits.

Georgia-based Recall, spun out of logistics business Brambles Ltd last year, said on Monday Boston-based Iron Mountain had offered A$7 per share in the company in a non-binding indicative proposal, a premium of 9.4 percent to Friday's closing price.

"The proposal does not reflect the significant and unique value creation that a combination of these businesses would generate, including the potential to realise substantial synergies," Recall said in a statement to the Australian Securities Exchange.

The offer price does not include a big enough premium for securing control of the company, since the acquisition would generate savings of $250 million a year for Iron Mountain, Recall added.

But Recall said it "would be open to discussions with Iron Mountain" if it made an offer that reflects "the significant value creation of the merged companies".

Recall said it had hired Bank of America Merrill Lynch and UBS AG to advise on the potential takeover.

Recall shares fell A$0.05 on Friday at A$6.40, 27 percent higher than their Sept. 29 close before media began reporting Iron Mountain was preparing a bid. ($1 = 1.2118 Australian dollars) (Reporting by Byron Kaye; Editing by Jon Boyle)