UPDATE 2-Australia's AWE serves Mineral Resources notice to match Mitsui offer [Reuters]
MITSUI & CO LTD ADR (MITSY)
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Source: Reuters
UPDATE 2-Australia's AWE serves Mineral Resources notice to match Mitsui offer | Reuters Reuters Staff 3 Min Read * Mineral Resources has until Feb. 2 to match Mitsui * Waitsia co-owner Beach happy to work with a new partner * AWE shares hold above Mitsui’s A$0.95 offer price (Adds Beach CEO comments on Waitsia) By Sonali Paul Jan 31 (Reuters) - AWE Ltd has given suitor Mineral Resources three days to match a A$594 million ($480 million) takeover offer from Mitsui & Co, or it will back 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 an offer from Mineral Resources. AWE said it would agree to Mitsui’s all cash offer of A$0.95 a share if Mineral Resources did not match it. Investors, however, are eyeing a higher bid emerging, with AWE’s shares currently trading at A$0.97 a share. Mineral Resources was not imme
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