Mitsui offer for AWE deemed fair

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 18 : 22-Feb-18

AWE Limited has posted a 2017-18 interim net loss of $A23.8m, although its underlying loss narrowed from $A11.5m previously to just $A5.3m. Meanwhile, an independent expert’s report by Grant Thornton has concluded that the $A602m takeover offer from Japan-based Mitsui is "fair and reasonable". The firm values AWE’s shares at between $A0.78 and $A1.06, compared with Mitsui’s offer of $A0.95 per share. RBC Capital Markets says Mineral Resources and China Energy Reserve & Chemical Group are unlikely to make new offers for AWE.

CORPORATES
AWE LIMITED – ASX AWE, GRANT THORNTON AUSTRALIA, MITSUI AND COMPANY LIMITED, RBC CAPITAL MARKETS, MINERAL RESOURCES LIMITED – ASX MIN, CHINA ENERGY RESERVE AND CHEMICAL GROUP COMPANY LIMITED, LATTICE ENERGY LIMITED, BEACH ENERGY LIMITED – ASX BPT

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