DealZone Daily

March 15, 2010

Arrow Energy says discussions with Royal Dutch Shell and PetroChina over their $3 billion joint takeover offer for the Australian group are continuing. That is despite a story in the Australian Financial Review that says Arrow is set to reject the bid as too low. Read the Reuters story here.

Also in energy, China National Offshore Oil Corp (CNOOC) is planning a joint venture with Argentina’s Bridas Energy Holdings. It will pay $3.1 billion to take a 50-percent stake in subsidiary Bridas Corporation. Incidentally, Bridas owns 40 percent in Pan American Energy — which is 60-percent owned by oil major BP.

For these and all other stories, click here.

And elsewhere in media:

The Japanese government is considering spinning off Nippon Telegraph and Telephone Corp’s fibre-optic businesses into a separate company, the Yomiuri newspaper reported.

Phillips-Van Heusen is close to a deal to buy U.S. fashion brand Tommy Hilfiger Corp for about 2.2 billion euros ($3 billion), The New York Times reported, citing people briefed on the matter.

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