Overview
Santos chief executive Kevin Gallagher has told investors the oil and gas company’s Middle Eastern suitor has made considerable progress towards a binding deal but has not quelled market doubts that it will be finalised.
Gallagher said the Santos board decided to extend exclusive due diligence for the bid led by Abu Dhabi National Oil Co’s overseas investment arm XRG by four more weeks to September 19 because of the progress made and the bidder’s strong commitment to the proposed $26.4 billion takeover.
Source: https://www.afr.com/companies/energy/santos-profits-slump-on-flat-output-and-lower-prices-as-takeover-drags-20250813-p5mmrg