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Arrow Bids $540M For Bow Energy
Arrow Energy Holdings has submitted a bid worth $540 million for Brisbane-based coal seam gas producer Bow Energy.
Arrow Energy Holdingshas submitted a bid worth $540 million for Brisbane-based coal seam gas producerBow Energy,The Wall Street Journalreports. The Australian privately owned firm is seeking to acquire Bow Energy to fuel its gas-export project in the nation.
As part of the offer, Bow Energy received an initial cash offer worth $1.53 per share from the joint venture ofRoyal Dutch ShellandPetroChina. The venture is expected to make a final investment decision on the project in the second half of 2012, addsReuters.
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