Mineral Resources bids for Australian gas firm AWE
All-share bid tops China state-owned CERCG's A$442 million sweetened offer by slim margin
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Melbourne
AUSTRALIA'S Mineral Resources has made an all-share bid for domestic gas producer AWE Ltd, just topping a A$442 million (S$449.7 million) sweetened offer from state-owned China Energy Reserve and Chemicals Group (CERCG).
The suitors are targeting AWE's stake in its Waitsia gas project in Western Australia, which the company has called the country's biggest conventional gas find onshore in four decades.
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