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Australia's AWE Ltd receives takeover offer from Mineral Resources

Published 11/12/2017, 09:46 am
Updated 11/12/2017, 09:50 am
Australia's AWE Ltd receives takeover offer from Mineral Resources

Dec 11 (Reuters) - Australian oil and gas producer AWE Ltd AWE.AX said on Monday it had received a takeover offer from mining infrastructure provider Mineral Resources MIN.AX for A$0.80 per share, a near 10 percent premium to AWE's closing level on Friday.

The Mineral Resources offer price was reached on a scrip basis, structured as one Mineral Resources share for every 22.325 AWE shares, the company said in a statement.

The A$0.80-per-share offer outbids a revised offer made by state-owned China Energy Reserve and Chemicals Group of A$0.73 per share last week. = 1.3324 Australian dollars)

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