Glencore May Make $19.5 Billion Bid for ENRC Metals Miner, Times Reports

Glencore International Plc may make a 12 billion-pound ($19.5-billion) bid for Kazakh metals producer Eurasian Natural Resources Corp., the Sunday Times said.

Glencore doesn’t comment on speculation, Simon Buerk, a company spokesman based in Baar, Switzerland said by telephone today when asked about the Times report. ENRC declined to comment.

Ivan Glasenberg, Glencore’s chief executive officer, has held talks in recent weeks with three investors who control about 45 percent of ENRC’s shares, the newspaper said, citing an unidentified person with knowledge of the discussions.

Glasenberg has also held talks about a possible deal with the government of Kazakhstan, which hold 12 percent of ENRC, the Sunday Times said, citing a separate unidentified official. Glencore has not made a formal bid, the Times reported.

To contact the reporter on this story: Lananh Nguyen in London at

To contact the editor responsible for this story: Dick Schumacher at

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