Harbour Energy offers $13.5bn for Australia's Santos

By Pouyan Broukhim

Leading US energy company Harbour Energy has announced that it has made a $13.5bn offer in an attempt to acquire Australian firm Santos.

The offer, valued at $4.98 equates to a 30% premium compared to Santos's unaffected share price of $3.89.

See also:

This is the third offer that Harbour has made for Santos since August of last year, with Santos now stating that they would be willing to engage further with Harbour in these negotiations.

"The Santos Board considers that, based on the indicative offer price of A$6.50 per share, it is in the interests of shareholders to engage further with Harbour," Santos said.

If the acquisition is successful, Harbour will use Santos' regional status to expand its growth in the Australian and Asian markets.

"We are pleased with the decision of the Santos Board to engage further and look forward to progressing this transaction towards completion," Harbour Energy CEO Linda Cook said.

Share

Featured Articles

How Elon Musk pulled off a $44bn hostile takeover of Twitter

As the world’s richest man, Elon Musk, takes over tech giant Twitter, we highlight the timeline that led to this titanic takeover

Amazon, Alphabet, Wells Fargo best workplaces, says LinkedIn

The top 50 workplaces to grow careers prioritise flexible work and tuition-support programs, as top-ranking firms Amazon and Alphabet prove, says LinkedIn

Top 10 women in technology in the US

These 10 women in tech are forging a path into bold areas of innovation and technological ambition, according to sister publication Technology Magazine

8 executive moves to crypto – from mainstream to startup

Technology & AI

Digital Twins tech ‘missing link’ in urban decarbonisation

Technology & AI

The Metaverse Foundry from Infosys is a business playground

Technology & AI