25 April 2024
PTT trumps Shell’s offer for Cove Energy with $1.9 billion deadline-day bid
Publication date: 23 May 2012
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Thai state-controlled energy group PTT made a late deadline-day bid of $1.9 billion for Cove Energy on Wednesday, trumping Shell’s previous $1.8 billion offer. Cove’s management – who on Tuesday yesterday backed Shell's visual_editorvisual_editor0 pence/share offer – are now recommending PTT’s visual_editor40 pence/share proposition to shareholders.