Anglo-Dutch integrated oil company Royal Dutch Shell has launched a bid for Cove Energy, the AIM-listed oil and gas company which put itself up for sale in January.
Shell is offering 195p per Cove share in a deal that values the east Africa-focused company at around £992.4m. At the close of business prior to the announcement of Shell's bid Cove was trading at 154.5p.
More to follow ...
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
jh
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
