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CNVGF vs. ETF Alternatives
Wednesday, May 232012, 2:40 PMCove Energy (CNVGF.PK) shares end +11.2% in London to 249p, above the new 240p/share bid from Thailand's PTT and indicating investors think Royal Dutch Shell (RDS.A -2%) may raise the offer. Heard On The Street's Andrew Peaple calculates Shell could yet pay up to $2.5B for Cove; it also has more firepower than PTT, with net debt to equity of 9.9% vs. PTT's 33%. |Wednesday, May 232012, 2:40 PM| Comment!
Wednesday, Feb 222012, 4:52 AMShell (RDS.A) offers to buy African explorer Cove Energy (CNVGF.PK) for £994.4M ($1.6B) to expand its footprint in Mozambique and Kenya. The 195 pence/share offer is a 26% premium to Cove's closing price in London yesterday. Cove's board expects to recommend the acquisition. Cove +25.1% in London trading. |Wednesday, Feb 222012, 4:52 AM| Comment!