PK TO VOTE ON CNPC'S OFFER IN OCTOBER
AsiaInfo Services, September, 2005
AsiaInfo Services 09-16-2005 PK to Vote on CNPC's Offer in October CHINA, Sep 16, 2005 (SinoCast via COMTEX) -- PetroKazakhstan Inc (PK) is to vote on acquisition proposal of China National Petroleum Corporation International (CNPCI), a wholly-owned subsidiary of China National Petroleum Corporation (CNPC), at an extraordinary general meeting on October 18. PK says that the proposal will be approved when 66% of the shareholders agree it plus additional conditions such as the approval of the court. CNPCI announced it would buy all tradable shares in PK at USD 55 per share on August 22.
The offer, totaling USD 4.18 billion, representing a premium of 24.4% based on the weighted average closing price of PK common shares on the New York Stock Exchange for the...
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