United States-based Harbour Energy has increased its takeover bid for Australia’s Santos Energy by 4.62%, to A$6.95 (US$5.21) per share, Santos said on Monday.
The offer represents an 11% premium to the level at which Santos’s shares closed on Friday and values the company at approximately $10.8 billion.
Harbour would be willing to increase the offer price to the US dollar equivalent of A$7.00 per share if Santos agreed to hedge 30% of oil-linked production in 2020.
Harbour made an initial offer...
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