Santos and ENN in an awkward spot after Harbour bid rejected

Original article by Simon Evans, Michael Smith
The Australian Financial Review – Page: 17 : 25-May-18

Oil and gas producer Santos announced on 22 May that it had rejected a $A14.4 billion takeover bid from private equity firm Harbour Energy. Chinese gas firm ENN, which is a major shareholder in Santos, did not take part in the board’s decision to reject Harbour’s bid, as it had backed the Harbour offer. Santos CEO Kevin Gallagher says he does not expect there to be any tension on its board as a result of the decision to reject the offer, while Macquarie Capital has described the decision as a "bold move".

CORPORATES
SANTOS LIMITED – ASX STO, HARBOUR ENERGY LIMITED, ENN ECOLOGICAL HOLDINGS COMPANY LIMITED, MACQUARIE CAPITAL PTY LTD, HONY CAPITAL, ENERGYQUEST PTY LTD

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