ENN Energy Holdings Ltd.’s biggest shareholder is considering abandoning a nearly $12 billion buyout offer for the Hong Kong-listed company, according to people familiar with the matter. Bloomberg and the Financial Post both report that the shareholder is reviewing whether to proceed with the offer, which is described as close to $12 billion. The reports do not specify the reasons for the potential change or provide details on what conditions or considerations are driving the review. They also do not state whether ENN has formally received a withdrawal notice or whether any alternative proposal is being discussed. The information is based on individuals familiar with the situation, suggesting the matter is still at a deliberative stage rather than a confirmed cancellation. The buyout would involve taking the company private or acquiring control, but the sources do not elaborate on deal structure, timing, or approvals. As of the reports, the offer outcome is not finalized and remains subject to the shareholder’s decision-making.