Shell extends offer deadline for Cove, again

Royal Dutch Shell has extended its offer for AIM-listed oil and gas producer Cove Energy by a further two weeks and urged Cove shareholders who have not yet accepted to do so.

Royal Dutch Shell has extended its offer for AIM-listed oil and gas producer Cove Energy by a further two weeks and urged Cove shareholders who have not yet accepted to do so.

Shell's £1.12bn offer for Cove has already been extended on two separate occasions after Thai firm PTT Exploration and Production (PTTEP) trumped its 220p-a-share offer with its own bid of 240p a share, valuing the company at £1.22bn. Despite having already recommended Shell's offer to its shareholders, Cove's management unsurprisingly decided to then back the offer by PTTEP which was 9.1% higher.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.