Shell's 4th Push Of $1.8B Cove Offer May Prompt Bid War End

Law360, New York (July 12, 2012, 12:39 PM EDT) -- Royal Dutch Shell PLC delayed the deadline for its $1.8 billion Cove Energy PLC tender offer a fourth time Thursday, which could prompt U.K. regulators to step in and force closure in the five-month bidding battle as soon as next week.

Analysts have widely speculated that Shell is brewing a higher bid that would best Thai rival PTT Exploration & Production PCL's $1.9 billion offer, approved by Cove Energy in May. But according to U.K. Takeover Panel timetables, the final day Shell could lodge a superior...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.