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News: AWE UPDATE 1-CERCG receives regulatory approval to dispatch AWE bidder's statement

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    (Adds background on CERCG offer to AWE)

    Dec 22 (Reuters) - State-owned China Energy Reserve and Chemical Group (CERCG) said on Friday Australia's foreign investment regulator had approved it to send a bidder's statement to AWE Ltd (AWE) shareholders for a failed takeover offer made earlier this month.

    CERCG made the A$0.73 a share offer on Dec. 8. The dispatch of the bidder's statement to AWE shareholders is a regulatory requirement.

    AWE had declined to give CERCG access to its books with its A$0.73 a share offer, and CERCG was unwilling to raise its bid without having access to AWE's books.

    AWE eventually accepted mining infrastructure provider Mineral Resources' (MIN) $403 million buyout offer on Thursday, pitched 14 percent above CERCG's.

 
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