Regal takeover deadline extended

Regal Petroleum shareholders have been given until 7 February to accept a £77m takeover offer from Energees Management, the firms said yesterday. Investors representing 2.79 per cent of Regal’s capital have already accepted the 24p per share offer, though rival Pinchuk has said it is preparing to bid 25p per share. Energees said it now has the green light from anti-monopoly watchdogs.