Shell Extends Offer For Explorer Cove Energy Again
From Reuters
Oil major Shell (RDSa.L) again extended a deadline for Cove Energy (COVE.L) shareholders to accept its $1.8 billion takeover offer, leaving the way open to trump a higher bid from rival Thai group PTT Exploration and Production PTTE.BK.
The two suitors have been battling to buy Cove since February, attracted by the company”s position in huge gas fields discovered off the coast of Mozambique which look set to transform the East African country into a major supplier of energy to Asia.
