Petronas Hikes Bid For LNG Shipper To $3B

Law360, New York (April 5, 2013, 5:24 PM EDT) -- State-owned Malaysian energy company Petroliam Nasional Bhd., known as Petronas, on Friday pumped up its go-private offer for shipping company MISC Bhd. to 9.2 billion ringgit ($3 billion), answering blowback from MISC shareholders who said the original consideration shortchanged them.

The revised offer would give MISC investors a 5.50 ringgit-per-share payout, up from an earlier 5.30 ringgit-per-share bid that put the total consideration at 8.7 billion ringgit, or $2.8 billion. Petronas is already MISC's biggest investor, but has been looking to round out its stake with...
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