Mineral Resources to acquire the remaining 80.1% stake in Norwest Energy for $350m.

Mineral Resources, a mining services company, agreed to acquire the remaining 80.1% stake in Norwest Energy, an oil and gas exploration company, for $350m. "The Norwest Board is satisfied that MinRes’ improved offer is now a good deal for shareholders, and in the absence of a superior offer, unanimously recommends shareholders should accept the Revised Offer before it closes. We have worked with MinRes in the interest of our shareholders to achieve the valuation and terms reflected in its revised offer. The offer provides Norwest shareholders with an opportunity to maintain an interest in the Lockyer project through an investment in MinRes, being a company with significantly greater balance sheet strength and underpinned by a diverse portfolio of operations," Ernie Myers, Norwest Chairman.