Australia’s Arrow Energy Holdings Pty Ltd confirmed that it has entered into a Scheme Implementation Agreement with coal seam gas company Bow Energy Ltd under which Arrow has agreed to acquire all of the shares in Bow for a cash consideration of A$1.52 per Bow share. The offer values Bow at A$535 million. Bow Board members have unanimously recommended shareholders vote in favour of the offer, in the absence of a superior proposal and subject to an independent expert concluding that the offer is in the best interests of Bow shareholders. The offer allows Bow shareholders to realize the value of their Queensland coal seam gas (CSG) assets, and is subject to customary conditions including regulatory and Court approvals, and Bow shareholder approvals.