Published on 23rd June 2013
The trio of Central Asian oligarchs who founded FTSE 100 listed miner ENRC are expected to return tomorrow to the markets with an even lower offer for the company. The new bid is expected by analysts to value the company at 240p per share, less even than the 260p initially tabled. While the firm´s independent directors considered that the initial proposal “materially undervalued” the firm those three shareholders, together with the Kazhak government and Kazakhmys, who owns 26% of its rival, have more than enough heft than necessary to push it through, writes The Sunday Times.