Hopes of Regal Takeover by Shell Boosts Shares

Evening Standard - London › October 03, 2008

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Summary

EXCITEMENT mounted in early trading following a media report that Shell had written to Regal chairman Keith Henry within the past few days.

According to the story, the letter sketched out a proposal for a takeover worth 300p a share, more than three and a half times Regal's closing price last night of 83p.

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Extract

Hopes of Regal Takeover by Shell Boosts Shares

But a Regal spokesman said the newspaper story was not true and having just spoken to the Regal chief executive David Greer, said, "We have seen no such letter."

He sa...

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