Australian energy company AWE said today that it had received an “unsolicited” takeover offer from Japan’s Mitsui & Co.
AWE said Mitsui wanted to buy all of its shares at $0.95.
AWE said its board would weigh up the proposal and provide shareholders with a recommendation “in due course”.
In the meantime, the company advised shareholders to take no action in relation to the proposal.
China’s CERCG and Australia’s Mineral Resources have also been linked with takeover bids for AWE, whose main focus is on the development of Stage 2 of the Waitsia gas project in Western Australia.
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