Deals
Harbour Makes Final, Sweetened $10.9 Billion Santos Offer
- Offer may be raised again if 30% of 2020 output hedged: Santos
- Harbour says latest offer for Santos is ‘best and final’
A Santos well in Narrabri, Australia.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
Harbour Energy Ltd. made a final sweetened bid of $10.9 billion for Santos Ltd., claiming support from the Australian oil and gas producer’s biggest shareholders.
U.S.-based Harbour improved its bid 4.6 percent and indicated it could be raised further if Santos expanded its oil hedging program, the Australian company said in a statement Monday. At $5.21 per share, or the equivalent of A$6.95, it’s an 11 percent premium to Friday’s close.