Energy takeover

09:11, March 17, 2010      

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Australian coal-seam gas company Arrow Energy said Tuesdaythat it remained in talks with Royal Dutch Shell and PetroChina on the duo's joint takeover offer, worth at least $3 billion, which media reports said Arrow is set to reject. Shell and PetroChina last week offered A$4.45 ($4.07) in cash for each Arrow share, plus a share in a new Arrow entity.

Source: Global Times
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