Deloitte Touche Tohmatsu

Deloitte Backs Arrow Energy Takeover Bid


Deloitte Touche Tohmatsu termed the PetroChina and Royal Dutch Shell $3.5 billion worth of Arrow Energy (AOE), bid as a fair one since it was about $17 percent higher than the value of the Arrow shares. PetroChina and Shell took the decision in March to buy the Australian operations of Arrow Energy for as much as $4.70 per share which is to be paid in cash. According to Deloitte, the Australian operations of the company worth within the range of $4.00 and $4.40 per share.

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