Royal Dutch Shell gets 1.25% Cove Energy Acceptances, Offer Lapsed
07/26/2012| 03:33am US/Eastern
LONDON--Shell Exploration and Production B.V., or Shell Bidco, a wholly owned subsidiary of Royal Dutch Shell PLC (>> Royal Dutch Shell Plc), said Thursday the offer for Cove Energy PLC (>> Cove Energy PLC) has now lapsed as it hasn't received the required number of acceptances.
-As at 1200 GMT on July 25, Shell Bidco had received valid acceptances of the offer in respect of 6.16 million Cove shares, or 1.25% of the existing issued share capital.
-Royal Dutch Shell shares at 0715 down 48 pence, or 2.19%, at 2139 pence valuing the company at 81.26 billion pounds; Cove Energy shares down 2 pence, or 0.63%, at 238 pence, valuing the company at GBP1.18 billion.
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