Japanese combine Mitsui & Co. has extended the offer period until May 2 for its unconditional recommended cash takeover offer for Sydney-based AWE Ltd. (OGJ Online, Apr. 5, 2018).
Mitsui has now gained 93.19% of AWE shares and the company says it is giving any remaining AWE shareholders yet to accept its offer of 95¢ (Aus.)/share to do so within the next 2 weeks.
After that, Mitsui will proceed with the compulsory acquisition of outstanding AWE shares. The company says shareholders who accept before the end of the offer period will receive their consideration within 7 business days of their valid acceptance being received—a faster timeframe than that under compulsory acquisition.