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Glencore Considers 12 Billion Pound Bid for ENRC, Times Reports

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

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 holds 12 percent of ENRC, the Sunday Times said, citing a separate unidentified official. Glencore hasn't 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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