The Annual Equipment of Pipeline and Oil &Gas Storage and Transportation Event
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China Petroleum & Chemical Corp (Sinopec) and ENN Energy Ltd said on Tuesday that they reserved the right to revise the terms of their $2.2 billion takeover offer for China Gas Holdings Ltd .
The consortium issued the statement to clarify that Sinopec Chairman Fu Chengyu's comments during a March 26 press conference did not constitute a "no increase" statement under Hong Kong's takeover code.
Sinopec and ENN have made an indicative offer of HK$3.50 per share to buy China Gas, which the target company rejected in December, saying the proposal failed to reflect the fundamental value of China Gas.
Along with the rapid development of China's energy industry, China Oil & Gas Pipeline network is experiencing unprecedented great structure, large-scale construction and giant leap. Read More >
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