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Australia's Mineral Resources to buy AWE for A$526m

Published Thu, Dec 21, 2017 · 09:50 PM
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Bengaluru

AUSTRALIAN gas producer AWE on Thursday accepted a sweetened takeover offer from Mineral Resources Ltd worth about A$526 million (S$542 million) and that trumped an all-cash bid from a Chinese state-owned firm.

Mineral Resources improved its all-shares offer with a cash component, promising to pay the equivalent of A$0.83 a share, as long as Mineral Resources shares average between A$15 and A$21 a share ahead of a vote on the bid, expected in April.

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