What we learnt: Santos can’t answer the only question that matters

The big result: Santos | You could sum up the Santos analyst call in six letters: XRG WTF. Australia’s biggest ever all-cash deal is in full go-slow mode and Santos is playing along, extending bidder XRG’s exclusive due diligence by another four weeks.

While there’s plenty going on in Santos’ underlying business, analysts barely asked about anything other than XRG’s delays, the bidder’s approval process and what compensation Santos would seek for shareholders.

Source: https://www.afr.com/chanticleer/what-we-learnt-santos-can-t-answer-the-only-question-that-matters-20250825-p5mphw