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Shell, $RDSA, Will Buy Cove, $COV, for $1.8 Billion

By CRONKITE – Tue Apr 24, 2012 8:01am – No Comments

“Royal Dutch Shell Plc (RDSA), Europe’s largest oil company, agreed to buy Cove Energy Plc (COV) after raising its bid to 1.12 billion pounds ($1.8 billion), securing a stake in gas fields discovered off Mozambique.

Shell increased its offer for Cove to 220 pence a share from 195 pence, matching a rival proposal from Thailand’s PTT Exploration & Production Pcl (PTTEP), the Hague-based company said in a statement today. The board of London-based Cove has agreed to the Shell bid…”

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CRONKITE (9 days ago) I'll wager on trying to understand, but ignoring for what they believe is the greater good for now. [...]

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Major US	US Futures	Europe	Asia	Commodities	2yr Euro Yields	10yr Euro Yields	Oil
DOW 15,387.60 0.34% NASDAQ 3,502.12 0.16% S&P 500 1,669.16 0.17% VIX 13.37 2.69%	SPX 500 (CFD) 1,669.10 0.00% DOW (CFD) 15,386.00 -0.01% NASDAQ 100 3,025.60 -0.03% EURUSD 1.294 0.25%	UK 6,784.50 -0.28% GERMANY 8,448.80 -0.28% FRANCE 4,018.80 -0.43% SPAIN 8,410.50 -0.64%	H. KONG 23,260.00 -0.45% JAPAN 15,656.00 1.60% KOREA 1,993.83 0.64% SHANGHAI 2,302.40 -0.12%	NAT GAS 4.22 0.72% GOLD 1,386.10 0.62% SILVER 22.58 0.63% COPPER 3.38 1.29%	FRANCE 2YR 0.19 -10.90% GERMAN 2YR 0.00 -128.57% ITALIAN 2YR 2.18 27.59% SPAIN 2YR 2.81 8.21%	FRANCE 10YR 1.90 -0.37% GERMAN 10YR 1.42 2.16% ITALIAN 10YR 3.92 0.69% SPAIN 10YR 4.19 -0.38%	WTI 95.72 -0.48% BRENT 103.18 -0.70% WTI/BRENT 7.46 321 CR SPR 21.96 10.04%