ENRC shareholder Alexander Machkevitch announces takeover bid

Eurasian Natural Resources Corporation's (ENRC) shares surged Friday after major shareholder Alexander Machkevitch said he was considering a takeover bid for the Kazakh miner.

Eurasian Natural Resources Corporation's (ENRC) shares surged Friday after major shareholder Alexander Machkevitch said he was considering a takeover bid for the Kazakh miner.

The Jewish billionaire released a statement saying he was seeking a consortium with fellow shareholders Alijan Ibragimov, Patokh Chodiev and the Kazakh government to make an offer for the company.

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