OREANDA-NEWS. February 13, 2012. ENN Energy Holdings Ltd said its takeover bid for natural gas distributor China Gas Holdings Ltd is "reasonable" and it is not looking to sweeten the offer, the Hong Kong Economic Journal reported.

"We still think the price is very reasonable," the newspaper cited ENN Executive Director Wang Dongzhi as saying. "The bid price was decided after very careful consideration."

The report said Wang was confident the bid would be approved at an ENN shareholder meeting to be held by the end of February.

Officials of both companies were not immediately available for comment.

Last December, China Gas rejected a cash bid from Sinopec and ENN Energy, saying it failed to reflect the fundamental value of the company.