US EditionAbu Dhabi Makes $30 Billion Cash Bid to Acquire Australian Oil Giant
- On Monday, 16 June 2025, the XRG Consortium submitted a preliminary, non-binding offer to acquire all outstanding ordinary shares of Santos Ltd in Australia for US$5.76 per share.
- This proposal follows two earlier confidential bids in March offering US$5.04 and US$5.42 per share and reflects ongoing speculation of an acquisition led by Abu Dhabi National Oil Company.
- The Santos Board plans to unanimously endorse the offer, provided they reach agreement on satisfactory conditions for a binding scheme implementation agreement, contingent on an independent expert's ongoing assessment of the proposal’s fairness and the absence of a better offer.
- The offer values Santos at nearly $30 billion, representing a 28% premium over its $6.96 closing price on 13 June, and shares surged 11% to $7.72 on speculation tied to Middle Eastern investors.
- The transaction requires approvals from regulatory bodies including FIRB, and Santos notes there is no certainty the deal will proceed despite the board's early endorsement due to the offer's premium and fairness assessment.
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Jim Chalmers and the Santos offer: Australia's state of affairs Australian gas shot: Santos take control in the game – News... The post Jim Chalmers and the Santos offer: Australia's state of affairs appeared first on World News.
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Total News Sources19
Leaning Left2Leaning Right3Center2Last UpdatedBias Distribution43% Right
Bias Distribution
- 43% of the sources lean Right
43% Right
L 29%
C 29%
R 43%
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