Harbour raises bid for Santos to $14.5bn

Original article by Matt Chambers
The Australian – Page: 19 : 22-May-18

Shares in Santos closed 1.8 per cent higher on 21 May at $A6.36, in response to an improved takeover bid from Harbour Energy. The US group increased its bid from the initial offer of $US4.98 per share to $US5.21, which equates to $A6.95 based on the current exchange rate. Harbour Energy has advised that its new offer is "best and final", and it is conditional on Santos agreeing to hedge its oil production. Santos has told shareholders to take no action until its board considers the revised offer.

CORPORATES
SANTOS LIMITED – ASX STO, HARBOUR ENERGY LIMITED, ARGO INVESTMENTS LIMITED – ASX ARG, KATANA ASSET MANAGEMENT LIMITED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, EIG GLOBAL ENERGY PARTNERS, ROYAL DUTCH SHELL PLC

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