Shell Joint Venture Buys Bow Energy For Sweetened $520M

Law360, New York (September 26, 2011, 3:51 PM EDT) -- Australia's Arrow Energy Holdings Pty Ltd., a joint venture owned by subsidiaries of Royal Dutch Shell PLC and PetroChina, said Monday it would buy coal seam gas company Bow Energy Ltd. for a sweetened offer of AU$535 million ($520 million).

That price, which values Bow shares at AU$1.52 each, is a nearly $14 million increase over the unsolicited offer of AU$1.48 per share Arrow made on Aug. 22. The revised offer also represents a 72 percent premium over Bow's closing price on Aug. 19, Bow said....
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