Deals
Indian State-Run Companies Said to Consider Cairn Bid
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Indian state-run energy companies are considering bidding for a stake in Cairn India Ltd., countering Vedanta Resources Plc’s $9.6 billion offer for the explorer, according to two people familiar with the matter.
India’s oil ministry has instructed Oil & Natural Gas Corp. to study the possibility of making a counter offer, one of the people said. GAIL India Ltd. may join ONGC, another person said.