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CNOOC Ltd. Message Board

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  • get_lucky_now get_lucky_now Aug 29, 2007 6:29 PM Flag

    Will CEO buyout TMY ?

    CNOOC better move on TMY. It appears OIL AND NATURAL GAS CORP (ongc.ns) may have an interest in TMY.

    How about a bidding war?

    ONGC Videsh Eyes Transmeridian
    07/24/2007 BusinessWeek
    It was reported that Oil and Natural Gas Corporation (ONGC) is eyeing a takeover of Transmeridian. ONGC Videsh Ltd has been eyeing Transmeridian for sometime now. Industry sources said that the company has done preliminary due diligence and it is expected to take a decision anytime now. The sources said as per the US law OVL had two options to takeover Transmeridian � make offer directly to company shareholders for purchase of shares or make a merger proposal under which 100% of the company is acquired with board and shareholder approving the OVL�s offer.

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