Santos receives revised $10.4bn takeover offer from Harbour

By Thierry Boudan

Leading Australian energy company Santos has revealed that it has received a revise buyout offer from US-based private equity firm Harbour Energy valued at USD$10.36bn (AUD$13.77).

“Santos advises that it has received a binding, conditional proposal from Harbour Energy Australia Pty Ltd (Harbour) to acquire 100% of Santos shares by way of a scheme of arrangement for consideration equivalent to USD$4.98 per share,” Santos said.

See also:

“The independent directors of Santos will consider the Revised Harbour Proposal and will update shareholders accordingly.”

In April, Harbour announced that Santos had stated that it would be open to discussing a potential sale with the US firm, with Habour having now made the conditional proposal official.

If accepted and granted regulatory approval, the deal would mark the largest takeover of an Australian oil & gas producer in the country’s history.

Santos shares dipped 2% in the wake of the announcement.

Share

Featured Articles

Twitter timeline – how Musk pulled off a hostile takeover

Elon Musk strikes deal to buy Twitter for US$44bn following four months of cryptic tweets, secret meetings and buying of shares – here’s the timeline

Top 10 Asia restaurants, from Tokyo’s Den to Bangkok’s Sorn

From Tokyo to Bangkok, with cuisines spanning Cantonese, Thai and German, we highlight Asia’s top 10 places to eat, as per Asia’s 50 Best Restaurants

Microsoft: what Asia leaders need to know about hybrid work

Microsoft’s 2022 Work Trend Index guides Asia leaders to navigating a hybrid future – from making the office worth the commute to rebuilding social capital

Meet the company: EV Nio to list in Hong Kong, enter Europe

Leadership & Strategy

12 Tech trends to watch closely in 2022, from CB Insights

Technology

Why Deloitte Australia’s HR technology is winning awards

Human Capital