While Arrow didn't say what it plans to do with its 20.3% stake in the group, analysts expect the Australian firm -- which is backed by Royal Dutch Shell PLC -- to sell its stake into BG's offer. Arrow wasn't available for comment.
Coal-seam Gas
BG Gains on Deal for Pure Energy
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Arrow Energy Closes Offer for Pure, Wins 20.31% Stake
The offer closed March 13, leaving Arrow with a 20.31 percent interest in Pure, Brisbane-based Arrow said today in a filing to the Australian stock exchange. The company, Royal Dutch Shell Plcs Australian partner in gas extracted from coal seams, didnt say what its plans are for the stake.
BG Group wins Shell’s stake in battle for Pure
BG Group has moved a step closer to acquiring Pure Energy Resources, the Australian coal seam gas explorer, by winning approval for its A$1bn (US$640m) takeover offer from Royal Dutch Shell.
Arrow Rises on Speculation It Will Drop Bid for Pure
Arrow Energy Ltd., Royal Dutch Shell Plcs partner in coal-seam gas, gained the most in three weeks on speculation it will drop its bid for Pure Energy Resources Ltd. and follow Shell in accepting BG Group Plcs rival offer.
Shell Gives Ground to BG in Battle for Pure Energy
SYDNEY -- BG Group PLC has moved closer to securing control of Pure Energy Resources Ltd. after Royal Dutch Shell PLC said it would sell its 11% stake in the coal seam gas producer into BG's 1.03 billion Australian dollar (US$651 million) offer.
Shell to accept improved BG offer for Pure Energy
Royal Dutch Shell (RDSa.L) said it plans to accept BG Group's (BG.L) improved offer for its stake in Australian coal seam gas firm Pure Energy (PES.AX) in the absence of a higher bid, helping the British firm move closer to a takeover.
Shell Intends to Accept BGs Offer for Pure Energy
Royal Dutch Shell Plc said it intends to accept BG Group Plcs takeover offer for its stake in Pure Energy Resources Ltd., taking BG closer to winning control of the Australian coal-seam gas explorer.
BG Raises Bid for Pure Energy
BG likely hopes the move is a winning step in its battle with Royal Dutch Shell PLC's Australian joint-venture partner, Arrow Energy Ltd., for the coal-seam gas producer.
BG Raises Leading Bid for Pure Energy
BG likely hopes the move is a knockout punch in its battle with Royal Dutch Shell's Australian joint venture partner, Arrow Energy Ltd., for the coal seam gas producer.
BG Group Raises Cash Takeover Offer for Pure Energy
BGs increased offer of A$8.25 a share is final in the absence of a higher bid, the Reading, U.K.-based company said today in a statement to the Australian stock exchange. The move further boosts BGs offer above a rival cash and stock bid by Arrow Energy Ltd., Royal Dutch Shell Plcs Australian partner in coal-seam gas.
Australian Coal-Gas Sparks a Deal Boom
BG Group PLC, the British oil and gas company, and Royal Dutch Shell PLC's Australian partner Arrow Energy Ltd. are competing for Pure Energy Resources Ltd., an Australian player in coalbed methane.
Business big shot: Frank Chapman
Mr Chapman, 55, looks well placed to see off Shell, his old employer, to win Pure Energy Arrow Energy, Shells Australian partner, is the rival bidder for Pure, a producer of coal seam gas.
Australia’s Pure Energy favours BG offer over Shell
BG's offer beats rival one from Shell's Australian partner
BG Raises Bid for Pure Energy
Shell has it own LNG plans, announcing last week that it is studying the feasibility of building a processing facility at Gladstone to be fed by Arrow's reserves.
BG Raises Bid for Pure, Topping Shell Partners Offer
Feb. 17 (Bloomberg) -- BG Group Plc raised its hostile bid for Pure Energy Resources Ltd., topping an offer by Royal Dutch Shell Plcs Australian partner in coal-seam gas, as BG seeks to add reserves for an export venture.
BG ups bid for Pure Energy by 25 percent to trump rival
PERTH (Reuters) - BG Group raised its bid for Australian coal seam gas firm Pure Energy by 25 percent to nearly $650 million (458 million pounds), trumping a rival offer by Royal Dutch Shell's Australian partner Arrow Energy.
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