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Arrow May Reject A$3.3 Billion Shell/Petrochina Bid, Review Says

BLOOMBERG.COM

By James Paton

March 15 (Bloomberg) — Arrow Energy Ltd. may reject a A$3.3 billion takeover offer from Royal Dutch Shell Plc and PetroChina Co., the Australian Financial Review reported, without saying where it got the information. The time Arrow has spent evaluating the offer and analysts’ comments that the bid is too low have led to speculation the proposal will be rejected, the newspaper said.

To contact the reporter on this story: James Paton in Sydney at [email protected]

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