Santos Ltd said on Friday that U.S.-based suitor Harbour Energy has made a $10.36 billion binding offer for the company, pitched at the same price as an indicative proposal last month.
The bid, which would be the biggest takeover of an Australian oil and gas producer if successful, values the gas producer at $4.98 per share and follows four unsolicited approaches from Harbour.
Santos said its independent directors would consider the revised proposal and advised shareholders to take no action at this time.
The lastest offer includes a U.S. dollar offer of cash consideration for shareholders other than China’s ENN Ecological Holdings and Hony Capital, which together own 15.1 percent of the company. Read More