Bow Energy: Report Sees Arrow Energy Offer As Fair And Reasonable
17 November 2011 - 12:22AM
Dow Jones News
A report into a A$535 million (US$539 million) offer for
Australian coal seam gas developer Bow Energy Ltd. (BOW.AU) by
Royal Dutch Shell PLC (RDSA) and PetroChina Co. Ltd.'s (PTR) joint
venture Arrow Energy shows it is fair and reasonable, Bow said
Thursday.
An independent expert's report by Grant Samuel estimated that
the full underlying value of Bow is in the range of A$1.14 per
share to A$1.53 per share, compared with the A$1.52 cash offer from
Arrow.
The report concluded that the planned deal was fair, reasonable
and in the best interests of shareholders, Grant Samuel said.
-By David Fickling, Dow Jones Newswires; +61 2 8272 4689;
david.fickling@dowjones.com
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