AWE board backs takeover from Mitsui [Seeking Alpha]
MITSUI & CO LTD ADR (MITSY)
US:NASDAQ Investor Relations:
mitsui.com/us
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Source: Seeking Alpha
AWE board backs takeover from MitsuiHaving secured the unanimous support of AWE's board, Mitsui & Co. (OTCPK:MITSY+4.6%)said it would push ahead with a takeover offer that values the Australian oil-and-gas producer at A$602M.The move comes after rival suitor Mineral Resources (OTCPK:MALRY) opted against lifting its bid and AWE's board rejected an offer from China Energy Reserve & Chemicals Group.At stake is AWE’s interest in a natural-gas project in Western Australia's Perth Basin that is estimated to be one of the five largest onshore gas fields ever discovered in the country, as well as interests in other gas operations and an oil project off Indonesia.Click to subscribe to real-time analytics on MALRYNow read:Shell discloses energy transactions »
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