Kazakhmys rejects 1,550p/share offer from ENRC

LONDON, May 9 (Reuters) - Miner Kazakhmys Plc (KAZ.L: Quote, Profile, Research) said on Friday it had rejected an approach worth 1,550 pence per share from Kazakh mining group Eurasian Natural Resources Corp Plc (ENRC.L: Quote, Profile, Research), which has a May 16 deadline to make an offer.

Kazakhmys said in a statement that under ENRC's proposal Kazakhmys shareholders would receive 1,022 pence cash and 0.413 ENRC share, representing Kazakhmys's current holding in ENRC.

"The board of Kazakhmys has considered and unanimously rejected the proposal from ENRC" it said in a statement. (Reporting by Dan Lalor)