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AWE board backs Mitsui bid

THE board of Waitsia gas field developer AWE has officially backed behind a spoiler bid from a long-time Japanese partner, rejecting a Chinese approach outright and spurning a Western Australian bid, after Chris Ellison’s Mineral Resources apparently declined to match Mitsui’s A$602 million cash offer.

Haydn Black
AWE board backs Mitsui bid

With the apparent expiration of MinRes' matching rights on Friday, AWE and its advisors have spent the weekend adapting to the sudden shift away from the board's previously favoured 83c cash-and-scrip...

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