Mitsui heats up bidding war for Australian gas producer AWE

Japan's Mitsui & Co has made a $481-million offer to buy Australia's AWE, trumping bids from two other companies that are vying for a stake in a promising onshore gas field. The Mitsui offer of A$0.95 a share in cash, or about A$594-million, marks the first full takeover bid by the Japanese trading giant for an Australian company and would make it the operator of a gas field for the first time.