Australian LNG player Santos responded to media speculation that ENN Ecological Holdings (ENN) will enter a trading suspension on the Shanghai Stock Exchange.
To remind, on April 3, Santos received an unsolicited, non-binding, indicative and conditional proposal from Harbour Energy (Harbour) to acquire 100 percent of Santos shares for US$4.981 per share.
Australian media reported that ENN and Harbour Energy have been in negotiations and have reached an agreement to work together on a joint bid for Santos takeover.
Commenting on media speculations, Santos confirmed it has not received a notification of any agreement between Harbour and ENN or any change in substantial holding in relation to its shares, in connection with to the Harbour proposal.
There is no certainty at this time that the Harbour proposal will result in an offer for Santos that is capable of being considered by shareholders.
Santos continues to advise that its shareholders take no action in relation to the Harbour proposal at this time, the company said in its statement.
Regardless of the outcome of the engagement with Harbour, the board and management remain focused on continuing to deliver shareholder value through the transformation of Santos into a low cost, reliable and high-performance business with strong growth potential.