Eurasian Natural Resources Corp. will probably select billionaire founder Alexander Machkevitch as chairman, helping resolve a dispute over board appointments and bringing clarity to decision-making, according to analysts.
Kazakh billionaire Alexander Machkevitch, one of three founders of Eurasian Natural Resources Corp., denied speculation that he may sell the London-listed metals producer, Express K newspaper reported.
Olympus Corp., the camera maker that admitted hiding losses for over a decade, said it’s considering suing present and past executives after receiving a report from a panel probing management responsibility for the cover-up.
A Eurasian Natural Resources Corp. independent committee set up to assess offers said it can’t recommend that shareholders accept a bid from the founders and the Kazakh government that values ENRC at $4.7 billion.
Eurasian Natural Resources Corp., which has lost almost half its value since its chief executive officer resigned in February, may fail to reverse losses with a board reshuffle as analysts seek clarity on who is in control.