Shell Keeps $2B Offer Open In Bidding War For Cove Energy

Law360, New York (May 25, 2012, 4:43 PM EDT) -- Royal Dutch Shell PLC on Thursday extended its $1.8 billion offer for Cove Energy PLC, giving itself room to evaluate its options after the East Africa-focused company earlier this week instead accepted a rival bid from Thailand's PTT Exploration & Production PCL.

Shell said it would leave its offer open until June 13. As of Wednesday, the original closing date, it said nearly 5 percent of Cove's outstanding shares had been issued in connection with Shell's offer.

“Shell is currently considering its options and will make...
To view the full article, register now.