Is this a monster in the making?

Does anyone have this on their radar? What do you make of it, IPO sp at 540p Dec 2007, now 1123p. Am I too late to get in? I think sp is playing catch up with other major miners. Kaz already own 20% of the company.

http://www.enrc.com/index.asp
Check out the presentation there are some impressive numbers and their huge assests.

Barclays comment today:
"The founding shareholders of ENRC (collectively owning 43.77%) and the Kazakh government (11.65%) are “reviewing a number of potential opportunities which include the possibility of forming a consortium to make an offer for ENRC.” This offer would be for Kazakhmys’ stake (26.0%) and the listed minority (18.58%). Under UK listing rules any offer would be a Class 1 transaction and subject to shareholder vote by the minority shareholders. Therefore any offer would need to be acceptable to Kazakhmys both due to its blocking stake in any vote. Kazakhmys’ weighted average entry price into ENRC is 575p. However, we note the stake has been for sale for a number of years therefore the opportunity to liquidate below entry may have attractions.
The success of any bid then would depend on the ability of the consortium to raise sufficient financing to buy out 44.58% of ENRC at a price acceptable to Kazakhmys. At 575p that would equate to $5.1bn. We note Societe Generale is advising the consortium. The consortium has until 5pm on 17 May to respond. Potential counter offerors for the stake are out there but we regard any intervention in a competitive situation as relatively unlikely. As for Kazakhmys, an all-cash takeout of their stake in ENRC would alleviate any balance sheet issues for the company (cash proceeds of $2.96bn at 575p, reducing peak ND/EBITDA to 3.1x from 6.4x) and result in a re-rating – hence the 24% move in the share price recently. The advantage to the consortium of the deal would be that it allows them to break the company up much more easily and potentially sell the assets on piecemeal. It obviously avoids having to conform to the FTSE indexation regulations requiring them to issue or sell at least 7% of the stock this year and reduce regulatory hurdles in general. We would also note the bigger picture implications. Towards the end of super cycles there tend to be privatizations, M&A and bankruptcies. In the case of FSU based companies, they are facing the unprecedented situation of being owned by Western institutional shareholders in a declining commodity price environment when previously Moscow provided funding."

Harry, in words that a thicko can understand, what would the likely outcome mean to a share holder like me if the above were to happen.,. please.

My understanding is that the consortium would take ENRC into private hands and they would pay you cash for your shares. The Kaz owned portion of ENRC was bought at approx 575p, so the theory is that they would want that price to sell their stake. But it seems unlikely they will get that as they have been trying to sell for a couple of years, with no takers. So, you would get cash, no share offer, but no one is sure how much you would get per share.....yet. Has to be 'put up, or shut up' by end of play 17th May 2013.

why would the offer be even as high as 575? ..... i don't know when the kaz boys were bought out, but i'ld guess the game has changed since then with sp now only about 300

The Kaz boys haven't yet been bought out. They are a 26% stakeholder. Agreed they would probably not get 575p for their shares, as they have not been offered that up to now. But, don't forget these guys are russians. I'll say no more!

Thanks harry.

i don't think you'll win many friends in the region describing kaz boys as russian, any more than you would in ukraine :-)

Very nice rise this a.m. well in profit at last.,.

Bidco takeover offer of 234.3 p