shell has launched a takeover bid for arrow, page-13

Maybe it was rumored then

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Shell bids $3.3bn for Arrow Energy, report says

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Anglo-Dutch oil major Royal Dutch Shell Plc has made a takeover offer for energy company Arrow Energy Ltd worth more than $3.3 billion, according to The Australian Financial Review.

According to the newspaper, Arrow has cancelled a planned investor roadshow this week after receiving the offer late last week.

The AFR reports that the move was sparked by Arrow's recent restructure of its Fisherman's Landing LNG project, including its need to secure $2.2 billion in funding for capital expenditure.

A potential sale of some of Arrow's stake in its domestic coal seam acreage, in which Shell owns 30 per cent, is also believed to be a factor, according to the newspaper.

Shell owns a 10 per cent share in Arrow's international unit.


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