It is reported that Bhushan Steel (Australia) Pty Ltd, a wholly owned subsidiary of Bhushan Steel Limited, will offer to acquire all of the fully paid shares in Bowen Energy during the offer period commencing on 7 October 2010 and ending 7 November 2010.

The bid is an on market, un conditioal offer at AUD 0.10 per share, with the shares last trading at AUD 0.06.

The shares are ordinary shares in the company. Bushan has a total of 81,693,738 shares on issue.

Bushan has a relevant interest in 48,721,051 shares representing approximately 59.64% of the total number of shares on issue.

(Sourced from Proactiveinvestors)