ONGC and GAIL are planning to outbid Royal Dutch Shell and Thailand's PTTEP with a $2Bn offer for UK's Cove Energy.
Royal Dutch Shell has offered to buy Cove Energy Plc for $1.6Bn. Shell is offering 195 pence for each Cove share, read this.
Cove put itself up for sale last month after reporting one of the world’s largest gas discoveries in a decade off Mozambique. Standard Chartered Bank and Cenkos Securities Plc are advising Cove on the sale.
Tech Mahindra is acquiring US based network engineering service provider, Lightbridge Communications Corporation for an EV of $240 Mn. The deal, expected to be closed by Q4 of FY15, is subject to regulatory approvals.