shell has launched a takeover bid for arrow, page-76

The Bull supports the idea that there will be a higher bid fo AOE
"At this stage, the Arrow board recommends shareholders take no action in relation to their Arrow shares," the company said in a statement.

Mr Burns said the value of the new Arrow international business was probably worth about $400 million, which would equate to an extra 55 cents per share for Arrow shareholders.

Including the cash component of the bid, the full value of the bid at that price would be $5.00 per Arrow share, or about $3.7 billion, Mr Burns said.

Some analysts say Arrow's international arm is worth more, and the total value of the bid could be as high as $5.25 per share, or $3.85 billion, Mr Burns told AAP.