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Harbour Energy Seeks Santos Growth With $10.3 Billion Offer

  • Explorer grants Harbour due diligence after receiving proposal
  • Indicative proposal is worth A$6.50 per share: statement
Bloomberg business news
Harbour Energy CEO Seeks to Expand Santos in Asia, Africa
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Harbour Energy Ltd. Chief Executive Officer Linda Cook said she would seek to expand Santos Ltd. in Asia and Africa after making a A$13.5 billion ($10.3 billion) offer for Australia’s third-largest energy producer.

U.S.-based Harbour would look to grow Santos’ gas assets in South Australia’s Cooper Basin, the ConocoPhillips-operated Darwin LNG plant in the Northern Territory and in Papua New Guinea, Cook said in a phone interview Tuesday. The Adelaide-based company granted Harbour due diligence after receiving the indicative proposal worth A$6.50 per share on March 29, it said in a statement Tuesday.