ADNOC-led consortium given exclusive due diligence access for $18.7bn Santos takeover offer

From Yahoo Finance: 2025-06-30 06:44:00

Abu Dhabi National Oil Company (ADNOC) led consortium has been granted exclusive due diligence access by Santos, an Australian oil and gas producer, for a $18.7bn takeover offer. The proposal suggests acquiring all Santos’ shares at $5.76 per share. The consortium, including Abu Dhabi Development Holding Company and Carlyle, has six weeks for due diligence. Santos may consider superior offers after four weeks. The company operates in Australia, Papua New Guinea, Timor-Leste, and the US, with a focus on LNG plants and oil and gas production assets. The confidentiality terms are detailed in a separate agreement for sensitive information protection.



Read more at Yahoo Finance: Santos gives XRG Consortium six weeks for $18.7bn takeover review