Santos shares slip as Harbour stands firm

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 18-May-18

Analysts differ on the merits of Harbour Energy’s bid for Santos, after the suitor submitted a binding offer for the oil and gas group. Harbour Energy has formally offered $US4.98 per share, which equates to about $A6.63 per share and is the same price as it had initially proposed. James Byrne of Citigroup and Andrew Hodge of Macquarie Equities expect Santos directors to reject the bid, although the Hayberry Global Fund’s Matthew Blumberg says the bid is "probably fair". Santos shares closed 1.9 per cent lower at $A6.20 on 17 May.

CORPORATES
SANTOS LIMITED – ASX STO, HARBOUR ENERGY LIMITED, CITIGROUP PTY LTD, MACQUARIE EQUITIES LIMITED, HAYBERRY GLOBAL FUND, ENN ECOLOGICAL HOLDINGS COMPANY LIMITED, HONY CAPITAL, EIG GLOBAL ENERGY PARTNERS, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD

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