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Market Chatter: ENN Energy's Largest Shareholder ENN Natural Gas Considering Cancellation of Buyout Plans

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ENN Energy Holdings' (HKG:2688) largest shareholder, ENN Natural Gas (SHA:600803) is mulling scrapping plans for a $12 billion take-private offer, Bloomberg reported Friday, citing people familiar with the matter.

ENN Natural Gas could opt not to extend a deadline to satisfy pre-conditions for the transaction, the report said, citing the sources.

The Shanghai-listed shareholder first agreed to extend a March 13 deadline to June 12, according to Bloomberg. It has not yet made a final decision, according to the news outlet.

ENN Natural Gas owns 34% of ENN Energy through Xinneng (Hong Kong) Energy Investment.

ENN did not immediately respond to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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