Kazakmys shares included in failed ENRC takeover bid

Suzie Neuwirth

KAZAKHSTAN-FOCUSSED miner ENRC today confirmed that it had rejected a takeover bid from a consortium of investors and clarified that Kazkhmys shares were part of the offer.

The London-listed firm turned down the bid on the grounds that it “materially undervalues ENRC”.

The proposed offer had been made by ENRC’s founders and the Kazakh Government.