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Buy: Shell plots $1.2bn Regal takeover bid

cbobting
cbobting Posts: 69 Forumite
in Savings & investments
The proposal, worth 300p a share, is a huge premium to Regal's closing price yesterday of 83p. But Shell's interest is likely to put Regal at the centre of a bid battle. It is thought that a number of companies have approached Regal in the past two months, including Russia's Lukoil and Gaz de France. According to a source, Shell has asked Mr Henry that the two sides try to reach a deal by October 20.

http://www.telegraph.co.uk/finance/newsbysector/energy/oilandgas/3124785/Shell-plots-1.2bn-Regal-takeover-bid.html

plus new wells and increased production.

reuters just posted that they havent been approached:

http://uk.reuters.com/article/hotStocksNews/idUKWLA071320081003

hmmm

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