Santos Rejects AUD 4.55 Overtures From Harbour, But It’s Unlikely to Be Over Yet
Santos confirmed it received a confidential cash takeover proposal from Harbour Energy in August 2017, contemplated to be undertaken via scheme of arrangement. It says the board deemed the indicative price of AUD 4.55 per share as too low and the source of funding too uncertain. It rejected the approach and says there are no formal offers on the table or discussions under way. But as we all know, where’s there’s smoke there is generally fire. Harbour Energy is a consortium of global energy inves...Santos is a natural gas company engaged in the exploration for, and development, production, transportation and marketing of, hydrocarbons. Co.'s operating segments consist of five key assets/operating areas of: Cooper Basin; Gladstone LNG; Papua New Guinea; Northern Australia; and Western Australia gas; based on the nature and geographical location of the assets, plus Other non-core assets. Co.'s proved petroleum reserves were 485.0 million barrels of oil equivalent at Dec 31 2016.
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