ENRC rejects takeover bid from founder’s consortium
May 21, 2013 | 02:30 PM
| Claire Hack
LONDON Eurasian Natural Resources Corp. Plcs (ENRCs) independent board committee has rejected an indicative takeover proposal from ENRC founder Alexander Machkevitch and the consortium he set up to bid for the diversified miner.
The proposal had included an offer of 175 pence ($2.66) per share in cash, or an aggregate of about $1.6 billion, as well as 0.231 of a share of Kazakhmys Plc for each ENRC share, the London-based companys independent committee said May 20, adding that it believes the proposal "materially undervalues ENRC." ....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.