Feb 2 (Reuters) - Takeover target AWE Ltd AWE.AX has raised concerns over a bid for the company by China Energy Reserves and Chemical Group(CERCG) with the Australian Government Takeovers Panel, the regulatory body said in a statement on Friday.
AWE, in its application, said that CERCG's bid fails to address a rival offer by Mineral Resources MIN.AX and does not sufficiently disclose whether funding is available for CERCG to carry out its bid, the panel said.
CERCG is the lowest bidder in a three-way bidding war for AWE. Earlier this week, AWE gave Mineral Resources three days to match a A$594 million ($480 million) takeover offer from Mitsui & Co 8031.T , or it would back the Japanese bid as a superior offer.