Bow Energy Recommends Sweetened A$534.6 Million Shell, PetroChina Offer
26 Septembre 2011 - 2:24AM
Dow Jones News
Bow Energy Ltd. (BOW.AU) on Monday urged its shareholders to
accept a sweetened A$534.6 million bid for the coal seam gas
company by a joint venture between Royal Dutch Shell PLC. (RDSB.LN)
and PetroChina Co. (PTR).
The pair have increased their offer to A$1.52 cash per share
from their previous offer of A$1.48, Brisbane-based Bow said in a
statement.
Shell and PetroChina plan to feed Bow's gas through a proposed
gas export terminal at Gladstone in Queensland state.
Bow shareholders will vote on the offer in mid-to-late December.
The board's recommendation is subject to an independent expert
report concluding the deal is in shareholders best interests.
-By Ross Kelly, Dow Jones Newswires; 61-2-8272-4692;
Ross.Kelly@dowjones.com
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