Monday, March 22, 2010 3:16:33 PM
Bay, another China buy.
Shell, PetroChina buy Arrow Energy. Royal Dutch Shell (RDS.A) and PetroChina (PTR) agreed to buy Australia's Arrow Energy for A$3.5B ($3.2B) in cash, a 35% premium to Arrow's stock before deal talks began. Investors will also get shares in a new company holding Arrow’s gas assets in China, Indonesia, India and Vietnam. Arrow's shares fell 2.6% in Australia, reflecting disappointment among investors who had expected a bigger increase from Shell/PetroChina's original A$3.3B offer. Premarket
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