Shell Won't Answer Thai Rival's $1.9B Bid For Cove Energy

Law360, New York (July 16, 2012, 3:51 PM EDT) -- Royal Dutch Shell PLC on Monday said it would not boost its $1.8 billion offer for the coveted Cove Energy PLC, leaving the target company's stake in a lucrative gas find off Mozambique's coast to a Thai rival offering $1.9 billion.

The energy giant's decision to bow out comes after U.K. regulators on Friday stepped in to help move the sale along, and halts a five-month bid war with Thailand's government-controlled PTT Exploration & Production PCL.

Under rules laid out on Friday by the U.K.'s Takeover...
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