UPDATE 1-Australia's AWE serves Mineral Resources notice to match Mitsui offer [Reuters]
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Source: Reuters
UPDATE 1-Australia's AWE serves Mineral Resources notice to match Mitsui offer | Reuters Reuters Staff 2 Min Read (Adds background, details on previous bids and share movement) Jan 31 (Reuters) - AWE Ltd said on Wednesday it has given suitor Mineral Resources three days to match a A$594 million ($480 million) takeover offer from Mitsui & Co , or it will nominate the Japanese bid as a superior offer. The Australian gas producer said in a statement it notified Mineral Resources late Tuesday, giving it a deadline of Friday, Feb. 2 to match the Mitsui proposal, which was 14.5 percent above the Mineral Resources offer. AWE said it would enter into a bid implementation deed with Mitsui and recommend its bid to shareholders if Mineral Resources did not match the A$0.95 a share offer. Investors, however, are eyeing a higher offer emerging, with AWE’s shares currently trading at A$0.9725 a share. Mineral Resources was not immediately available for comment on Wednesday, but a spokesman said in
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