Royal Dutch Shell (NYSE:RDSA) allows its bid of $1.8 billion for Cove Energy (CNVGF.PK) to go to June 13, following Thailand’s PTT Exploration’s higher offer of $1.9 billion on Wednesday. The action drove shares of Cove to 249p in London, which represents a rise of 11.2 percent, which tops PTT’s offer of 240p. However, if push comes to shove, some observers believe that Shell might go as high as $2.5 billion, as that firm says it’s “considering its options and will make a further announcement if appropriate”.
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General Mills (NYSE:GIS) acquires the Brazilian company Yoki Alimentos for 1.75 billion reais, or $857 million, in an arrangement that will help it grow its footprint in food markets in Latin America. Under the deal, General Mills assumes 200 million reais ($98 million) in outstanding debt.
Benefits for Kinder Morgan (NYSE:KMI) from the finalization of its purchase of El paso, include larger cost savings of $400 million annually, which is $50 million better than earlier estimates; and the firm now expects to declare dividends at a minimum of $1.40 for 2012, which represents a 5 cent increase from its previous plan.
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