Deals
China's ENN Will ‘Cautiously Consider’ Harbour's Offer for Santos
- ENN, Santos’ largest shareholder, seeking to maximise value
- Harbour given access to Santos books after $10.3 billion bid
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A Chinese company holding the largest stake in Santos Ltd. said it will “cautiously consider” a $10.3 billion takeover approach from U.S. suitor Harbour Energy Ltd. for the Australian liquefied natural gas exporter.
A unit of gas distributor ENN Group, which owns 10.1 percent of Santos, will hold initial talks with Harbour with the aim of maximizing shareholder value, it said in an emailed statement Monday, while warning a deal may not be completed due to uncertainty over the price and timing.