Companies & Finance

Santos to review new takeover bid from Harbour Energy

Santos has agreed to review an improved takeover bid from United States-based private investment company Harbour Energy worth $10.3 billion
By Staff reporter 4 April 2018 0 30291

Australian oil and gas company Santos has agreed to review an improved takeover bid from United States-based private investment company Harbour Energy worth A$13.5 billion ($10.3 billion), which would represent the biggest foreign offer for an Australian oil and gas business.

Santos received a proposal of $4.98 per share, equal to A$6.50, which represents a 28% premium to the company’s closing share price last week, according to a statement on Tuesday.

“The Santos board considers that, based on the indicative offer price of A$6.50...