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Abu Dhabi’s Adnoc makes $19bn bid to take over Australia’s Santos
Santos said XRG, an investment arm of the Abu Dhabi National Oil Company, had made an indicative cash offer of $5.76 a share, valuing the Adelaide-based company at $18.7bn. It represents a 28 per cent premium to Santos’s closing share price last week.
Explained: Santos and bidder Abu Dhabi National Oil Company are two giants in their regions
The Abu Dhabi conglomerate behind a near $30bn bid to buy Australian oil and gas giant Santos is a major player across the Middle East and Africa, with projects ranging from gas exploration and production to refineries,
Santos said on Wednesday it had progressed its Barossa LNG project towards final commissioning activities following the arrival and deployment of a floating production, storage and offloading (FPSO) ...
The pull of LNG is proving strong in the Middle East, driving the surprise takeover bid for an Australian producer that ...
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