Shell puts in more time on Cove Energy offer

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2012-06-14 12:26:12

(TRAMP Magazine) - LONDON (Reuters) - Royal Dutch Shell has given itself more time to decide the next move in its battle to buy Cove Energy , extending the acceptance deadline on its $1.8 billion bid as it vies with Thailand's PTT Exploration and Production for an entry into East Africa's big new offshore gas play. Shell said on Thursday it was extending the deadline for Cove shareholders to accept its 220 pence per share cash offer by another two weeks until June 27 after receiving valid acceptances for just 4.8 percent of the shares by the time of the last offer period closing at 0800 EDT on Wednesday. ... - Read Story
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