Mitsui Co Ltd, a company with total assets of US$104 billion, has finally won the race to acquire ASX-listed AWE Ltd, which has 50% interest in the Ande Ande Lumut project in Natuna Sea, Indonesia. Mitsui informed ASX this morning that it has entered into a takeover bid implementation deed with AWE Ltd.
Read MoreShares of Australia Worldwide Exploration (AWE) Ltd jumped 10.61% to A$0.73 this morning following an acquisition offer at A$0.8 per share by fellow ASX-listed company Mineral Resources Limited (MIN). At this price, AWE has market capitalization of A$442 million. MIN itself, meanwhile, inched up 0.17% only to make market capitalization of A$3.34 billion.
Read MoreAnde-Ande Lumut oil project in Natuna Sea is among major oil and gas projects whose development has been delayed for quite sometime now. Australian company Santos Limited, which acquired 50% interest in the block four years ago, yet to start the US$900 million project.
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