AWE raises concerns over Chinese co's bid with takeovers panel

Takeover target AWE has raised concerns over a bid for the company by state-owned China Energy Reserves and Chemical Group (CERCG) with the Australian Government Takeovers Panel, the regulatory body said in a statement on Friday. AWE, in its application, said that CERCG's bid fails to address a rival offer by Mineral Resources and does not sufficiently disclose whether funding is available for CERCG to carry out its bid, the panel said.