The American group ENRON (gas, electricity) has announced a friendly bid on Britain's MG (taxable profits of USD 21.1 million in the first half of this fiscal year, ending in March), one of Europe's leading non-ferrous metal traders that emerged from the former German group METALGESELLSCHAFT. The bid is for 300 pence cash per share, valuing the group at GBP 300 million. ENRON already owns 44.9% of MG. MG TECHNOLOGIES, a subsidiary of MG, has agreed to sell its share in the parent company.