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'Deep Pockets' Could Help Abu Dhabi Win Regulatory Approval for Santos Bid, Analysts Say
SYDNEY (Reuters) -Abu Dhabi National Oil Company, preparing an $18.7 billion bid for Santos, is likely to face close scrutiny from Australian regulators worried about local gas supply, but could win them over with pledges to speed up new projects, analysts say.
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,
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.
The pull of LNG is proving strong in the Middle East, driving the surprise takeover bid for an Australian producer that ...
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) ...
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