US EditionJim Chalmers Faces a Mission-Critical National Security Test
- Santos received a nearly $30 billion takeover offer from the XRG consortium led by Abu Dhabi National Oil Company, expected to be announced Monday.
- This takeover follows two earlier bids rejected by Santos' board due to low pricing, and the deal requires multiple regulatory approvals including from Australia and foreign jurisdictions.
- XRG commits to keeping Santos' name and South Australian headquarters, pledging to collaborate with management to support local jobs and growth.
- The $8.89 per share offer values Santos at about $28.8 billion, representing a 28% premium over the last closing price of $6.96, though shares remain below the bid price.
- The South Australian government said it will intervene if the deal is not in local interests, while ultimate approval rests with Treasurer Jim Chalmers amid ongoing negotiations.
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Takeover bid for Australian oil and gas major Santos
A consortium led by an Abu Dhabi National Oil Company subsidiary has launched a bid of almost $30 billion to take over oil and gas producer Santos. Santos’ bulging energy portfolio includes a raft of assets in Queensland, where it is part of the joint venture behind the Gladstone LNG (GLNG) plant. It also operates that […] Thank-you for your interest in iQ Industry Queensland. We invite you to purchase a registration through iQ Industry…
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Total News Sources12
Leaning Left3Leaning Right3Center1Last UpdatedBias Distribution43% Left, 43% Right
Bias Distribution
- 43% of the sources lean Left, 43% of the sources lean Right
43% Right
L 43%
14%
R 43%
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