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UPDATE 1-Kazakh miner ENRC given Kazakhmys bid deadline

Fri Apr 11, 2008 4:40am EDT

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(Adds detail, background)

LONDON, April 11 (Reuters) - Kazakh mining group Eurasian Natural Resources (ENRC.L) must announce any intention to make an offer for Kazakh copper major Kazakhmys (KAZ.L) by 5.00 pm (1600 GMT) on May 16, the UK's Takeover Panel said on Friday.

Kazakhmys said it welcomed the panel's ruling and the deadline it gave ENRC to clarify its intentions.

ENRC told Reuters earlier this week it was looking at growth opportunities worldwide and a possible takeover of rival Kazakhmys was only one of them.

ENRC's statement in March that it was interested in Kazakhmys sent shares in the copper major surging 23 percent to a life high of 18.9 pounds.

Its shares have subsequently fallen back and were down 0.2 percent at 17.22 pounds by 0823 GMT.

If ENRC says it does not intend to make an offer for Kazakhmys then it will be prevented from making an offer for the next six months, under Takeover Panel rules.

(Reporting by Chris Wills; Editing by Erica Billingham)

(chris.wills@reuters.com; 0044 (0)20 7542 5331; Reuters Messaging: chris.wills.reuters.com@reuters.net))



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