Santos may be forced to make asset sales after XRG drops $36.4b bid

Santos chief executive Kevin Gallagher is facing calls from investors to consider asset sales to lift value for shareholders after the oil and gas producer’s Middle Eastern suitor withdrew a $36.4 billion takeover offer just days before a binding deal was due to be inked.

Shares in Santos fell 12 per cent after the collapse of what would have been the biggest cash takeover ever in Australia and the biggest worldwide in the energy sector.

Source: https://www.afr.com/companies/energy/santos-may-be-forced-to-make-asset-sales-after-xrg-drops-36-4b-bid-20250918-p5mw2c