Shell says to buy Cove Energy for £1.12 bln

Royal Dutch Shell said Thursday it was mulling its options over Cove Energy, one day after Thai oil giant PTT trumped its takeover bid for the East Africa-focused group.PTT had revealed Wednesday that it had struck a deal to buy Cove Energy for £1.22 billion ($1.92 billion, 1.50 billion euros) after increasing its bid to 240 pence per share, from an earlier bid in February of 220 pence.The announcement was a blow to Shell, which last month that said its Bidco subsidiary had reached an agreement to buy Cove Energy for £1.12 billion, or 220 pence per share.

Thai oil giant PTT said on Wednesday it had struck a deal to buy East Africa-focused Cove Energy for £1.22 billion ($1.92 billion, 1.50 billion euros), trumping a rival offer from Royal Dutch Shell.PTT Exploration & Production PCL (PTTEP) increased its cash offer for Cove to 240 pence a share, from an earlier bid in February of 220 pence, it said in a statement to the London Stock Exchange."PTTEP and Cove are pleased to announce that they have reached agreement on the terms of a recommended cash offer," the group said.

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. ...

LONDON (Reuters) - Royal Dutch Shell Plc has made an agreed 992.4 million pounds ($1.6 billion) bid for Mozambique-focused Cove Energy , offering a full price to open up a new gas frontier for the Anglo-Dutch oil major in East Africa.

Reuters - Royal Dutch Shell Plc (RDSa.L) has made an agreed 992.4 million pounds ($1.6 billion) bid for Mozambique-focused Cove Energy , offering a full price to open up a new gas frontier for the Anglo-Dutch oil major in East Africa.

Royal Dutch Shell Plc has made an agreed 992.4 million pounds bid for Mozambique-focused Cove Energy, offering a full price to open up a new gas frontier for the Anglo-Dutch oil major in East Africa. Shell ...

LONDON (Reuters) - Royal Dutch Shell Plc has made an agreed 992.4 million pounds ($1.6 billion) bid for Mozambique-focused Cove Energy, offering a full price to open up a new gas frontier for the Anglo-Dutch oil major in East Africa.

LONDON (Reuters) - Royal Dutch Shell said it was considering its options regarding Cove Energy , the explor