China Gas Holdings Rejects $2.2 Billion Bid by Sinopec, ENN Energy

Reuters Africa reported that China Gas Holdings (HKG:0384) rejected the $2.2 billion cash bid from Sinopec (NYSE:SHI) and ENN Energy (HKG:2688).

As quoted in the market news:

* China Gas says bid fails to reflect value of company

* Sinopec and ENN may raise offer-analysts

* China Gas hires Macquarie as an adviser

* Regulators could block deal on monopoly concerns

Click here to read the full Reuters Africa report.