China Gas Holdings Rejects $2.2 Billion Bid by Sinopec, ENN Energy
Investing News Network - December 14th, 2011
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).
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