From Yahoo Finance: 2025-06-16 05:22:00

Australian oil and gas producer Santos receives $18.7bn takeover proposal from consortium led by Abu Dhabi National Oil Company. Offer of $5.76 per share represents 28% premium over Santos’ closing price. XRG Consortium targets key assets including LNG operations in Australia and PNG, with plans to retain headquarters in South Australia. Santos board to recommend potential transaction pending satisfactory terms. Takeover bid follows failed talks with Woodside for combined entity valued at A$80bn.



Read more at Yahoo Finance: ADNOC leads $18.7bn takeover bid for Australia’s Santos