Japan's Mitsui wins bidding war for Australian gas producer AWE

Mitsui & Co won a three-way bidding war to take over Australia's AWE, after rival Mineral Resources failed to match the Japanese trading giant's A$594-million offer. Assuming the deal goes ahead, it would mark Mitsui's first takeover of an Australian company and give it a 50% stake in the country's biggest onshore conventional gas find in 40 years at a time when local gas demand is soaring.