Sinopec Touts $2B China Gas Takeover Bid In Open Letter

Law360, New York (April 23, 2012, 3:37 PM EDT) -- Four months after its takeover attempt was rebuffed by China Gas Holdings Ltd. senior management, China Petroleum & Chemical Corp. sent an open letter to China Gas employees extolling the benefits of the proposed takeover, according to a U.S. regulatory filing Monday.

The company, more commonly known as Sinopec, disclosed the April 19 letter in a Form 6-K filed with the U.S. Securities and Exchange Commission.

Sinopec and joint venture partner ENN Energy Holdings Ltd. offered to buy China Gas for $2.15 billion in cash in...
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