The two companies have been competing since February for control of Cove, with PTTEP currently offering £2.40 per share compared to Shell’s £2.20.
Both offers are significantly below Cove’s 12 July closing price of £2.74.
While neither company has declared their offer final, neither has been able to win significant support for their deal, with both recording commitments of less than 4% of shares to their offers.
Deeming
