The founding trio for mining company ENRC is not making any new offers for their their bid to buyout the other investors in the company. This is the latest development in the company's turbulent history. The billionaire founders are aiming to make the company private once more after going through several years of probes, corporate battles and financial trouble.
A deadline has been set for the buyout offer but reports indicate that there is little chance that there would improvement in the initial offer. The first offer was given out in May. It was rejected by the independent members of the ENRC's board.
Experts say that because the company is heavily in debt, it is very limited when it comes to the offers that it can make. That's why there is little chance that the offer which was rejected last month would be improved. Technically, it means lesser money for the small investors since the company's shares has dropped since the first offer.
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