Australias Arrow Energy is set to reject as too low a $3 billion joint takeover offer from Royal Dutch Shell and PetroChina, a newspaper reported, a move that could prompt the bidders to return with a higher, hostile bid.
Petro China Company Ltd. (SHA:601857) has announced that it has finished the purchase of a 45.51% stake in Singapore Petroleum Co. (SIN:S99) and shall initiate a obligatory offer to acquire the shares in the enterprise it doesn't own currently.
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