Santos says no discussions with Harbour Energy, rejects $7.2 billion takeover approach

No discussions with Harbour Energy, says Santos
Image courtesy of Santos

Australian LNG player, Santos, confirmed it was not engaged in discussions with Harbour Energy regarding a potential takeover of the Australian company following several media reports.

The company noted on Thursday that it has not received a current proposal from Harbour Energy, a US investment firm led by Linda Cook who is a former top executive of LNG giant Royal Dutch Shell.

However, the company has said that earlier in August, it received a confidential, non-binding conditional and indicative proposal from Harbour Energy to acquire all the shares in Santos by way of a scheme of arrangement.

The indicative price was A$4.55 per share or about A$9.5 billion ($7.2 billion) in total.

“Santos’ board rejected the approach on the basis that the indicative price was inadequate and the sources of funds were uncertain,” the company said.

Santos added the company “receives a range of proposals from time to time and is at all times in compliance with its continuous disclosure obligations.”

Santos’ shares hit a 15-month high of A$4.97 on Thursday following the announcement.

Share this article

Follow LNG World News

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >