"Senex has now sheepishly withdrawn the bid although it has refused to rule out a new one."
"This is why Senex moved on AWE. As explained in US LNG: rebellion or revolution, shale production is a capital intensive business and Senex lacks cash flow to fund its ambitions. AWE provides two attractions: secure and growing cash flow and experience in shale production. Moreover, the company is cheap."
https://www.intelligentinvestor.com.au/awe-rejects-takeover-offer
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