August 13, 2008
Sinopec Considering $2.5 Billion Bid for Imperial Energy, an Industrial Info News Alert
Researched by Industrial Info Resources (Sugar Land, Texas) -- China Petroleum & Chemical Corporation (NYSE: SNP) (Sinopec) (Beijing) is considering a $2.5 billion bid for Imperial Energy (LON: IEC) (London), which has assets in Russia. Imperial Energy has confirmed that another possible cash offer besides India's state-owned Oil and Natural Gas Corporation (BOM: 500312) (ONGC) (New Delhi) was approaching, according to a report in the Daily Telegraph of Britain.
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SOURCE: Industrial Info Resources