Date:04/12/2008 URL: http://www.thehindu.com/2008/12/04/stories/2008120455921700.htm

Business - Briefly

OVL to make formal offer for Imperial shares

NEW DELHI: Oil and Natural gas Corporation Videsh Ltd. (OVL), the overseas arm of the Oil and Natural Gas Corporation (ONGC), is likely to make an offer to acquire shares of the U.K.-based Imperial Energy at 1,250 pence a share by December 9. Official sources said that all documents and acceptance forms are likely to be posted to the Imperial Energy shareholders by December 9 as all other formalities have been completed. — Special Correspondent