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Imperial studying $2.8B Indian offer


Published Aug 26, 2008
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Imperial Energy provides operational update-Spotlight

Russia-focused U.K. company Imperial Energy has confirmed the overseas exploration arm of India’s state-income earner ONGC has made a £1.4 billion ($2.8 billion) bid for all its shares.

Imperial’s board said the company was “finalising terms” ahead of possibly recommending shareholders accept the offer from ONGC Videsh Ltd.

The Leeds-based company's stock fell half a percent on news of the Indian offer.

Tags: Imperial Energy, ONGC, ONGC Videsh Ltd.




   

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