Petronas Makes $2.8B Offer To Buy Out LNG Shipping Unit

Law360, New York (January 31, 2013, 1:41 PM EST) -- State-owned Malaysian energy company Petroliam Nasional Bhd., known as Petronas, lobbed a 8.7 billion ringgit ($2.8 billion) go-private offer at shipping company MISC Bhd. to take over the 37 percent slice of the company that it doesn't already own, it said Thursday.

Under the terms of the deal, Petronas would fork over 5.30 ringgit per share, more than an 18 percent premium over Wednesday's close. The state-owned entity did not give a specific financing breakdown, but guaranteed it could cover the all-cash bid.

Petronas said it...
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