Mitsui’s takeover bid of AWE set unconditional

Mitsui's takeover bid of AWE set unconditional
Image courtesy of AWE

Japan’s Mitsui & Co takeover of the Australian oil and gas producer AWE Limited, has been declared unconditional following the acquisition of 51.89 percent of interest in AWE. 

To remind, Mitsui put in an unsolicited, non-binding and conditional proposal from to acquire 100 percent of AWE shares for cash consideration of $0.95 per share.

As Mitsui’s relevant interest in AWE has increased to more than 50.1 percent the offer became unconditional and automatically extended by 14 days, and is now scheduled to close on April 18.

At the end of February, AWE noted the Mitsui offer, coming at a 74.3 percent premium to AWE’s closing price of $0.545 on November 29, 2017, was ‘fair and reasonable’ and superior to the previous offer by CERCG Aus Gas. The company urged its shareholders to accept the Mitsui offer.

In its latest statement, Mitsui urged AWE shareholders to accept the offer without delay.

Share this article

Follow LNG World News

Events>

<< Jan 2020 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Mar 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills…

read more >

American LNG Forum 2020

The American LNG Forum is your gateway to learning about the US LNG export industry,

read more >

2nd Global LNG Forum

Global LNG Forum is an exclusive networking and knowledge-sharing platform for top experts and business leaders in the industry.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – Houston / Feb 2020

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools needed to:…

read more >