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Santos Seen Luring Bids After Rejecting $7.2 Billion Offer

  • Woodside seen among interested parties for Santos: Morningside
  • A potential bid may flush out rival offers: Evans & Partners
Bloomberg business news
Bloomberg’s Perry Williams discusses why a bid for Santos may trigger counter offers for the oil and gas producer.(Source: Bloomberg)
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A bid for Santos Ltd. may trigger counter offers for the Australian oil and gas producer that has stakes in some of the world’s cheapest liquefied natural gas.

The Adelaide-based company surged the most in a year after saying it received and rejected a A$9.5 billion ($7.2 billion) takeover approach from Harbour Energy Ltd. led by former Royal Dutch Shell Plc executive Linda Cook. Harbour is preparing to make another cash offer of about A$5.30 a share within weeks, according to a person with knowledge of the situation, confirming an earlier report by the Australian Financial Review.