ADNOC launches $18.7bn takeover bid for Australia's Santos
SOPHIE MAK and SHAUN TURTON
SYDNEY -- Australian oil and gas company Santos announced Monday that it has received a takeover offer worth $18.7 billion from a consortium led by international energy investment company XRG, a subsidiary of Abu Dhabi's state-owned oil company ADNOC.
The XRG-led consortium, which includes Abu Dhabi Development Holding Company (ADQ) and U.S. investment firm Carlyle, has proposed a "final non-binding indicative offer" to acquire 100% of Santos stock for $5.76 per share in cash.
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