Mitsui & Co has given a two week period for AWE (ASX:AWE) shareholders to accept its $602 million offer for the Perth Basin gas operator.
The extension comes after Mitsui’s interest in AWE reached 6.25 per cent, not enough to make the offer unconditional at over 50 per cent.
The AWE board and an independent expert have backed the bid, which beat rival offers from Mineral Resources, China Energy Reserve and Chemicals Group.
The Mitsui offer now closes on April 6 2018.
Shares in AWE (ASX:AWE) closed flat yesterday at $0.95.