FeFeb 24 (Reuters) - Thai state-controlled oil and gas group PTT has trumped Royal Dutch Shell Plc's bid for Mozambique-focused Cove Energy Plc with a 1.12 million-pound ($1.76 million) bid.
On Wednesday Shell announced it planned to offer 992.4 million pounds for Cove and Cove's management said they would recommend a firm offer at this level.
PTT's PTT Exploration and Production unit said on Friday it planned a 220 pence per share bid which would be conditional on government approval and recommendation by managementb 24 (Reuters) - Thai state-controlled oil and gas group PTT has trumped Royal Dutch Shell Plc's bid for Mozambique-focused Cove Energy Plc with a 1.12 million-pound ($1.76 million) bid.
On Wednesday Shell announced it planned to offer 992.4 million pounds for Cove and Cove's management said they would recommend a firm offer at this level.
PTT's PTT Exploration and Production unit said on Friday it planned a 220 pence per share bid which would be conditional on government approval and recommendation by management
