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

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 13 & 18 : 17-May-18

Santos has downplayed media reports which suggested that Harbour Energy has struck a deal with two Chinese investors in the oil and gas group. Santos has indicated that the incorrect media reports were based on a mistranslation of ENN Holdings’ Shanghai Stock Exchange announcement. ENN and Hony Capital have a combined stake of 15.1 per cent in Santos. Harbour Energy has yet to make a formal offer for Santos, although it has undertaken due diligence.

CORPORATES
SANTOS LIMITED – ASX STO, HARBOUR ENERGY LIMITED, ENN ECOLOGICAL HOLDINGS COMPANY LIMITED, HONY CAPITAL, SHANGHAI STOCK EXCHANGE, WOOD MACKENZIE, MORGAN STANLEY AND COMPANY INCORPORATED, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED

Original article by Matt Chambers
The Australian – Page: 20 : 16-May-18

Harbour Energy has secured an indirect stake in Santos of 15.1 per cent after striking an agreement with the oil and gas group’s Chinese shareholders, ENN and Hony Capital. Santos CEO Kevin Gallagher has advised that Harbour Energy has completed due diligence, although it has yet to make a formal offer for the oil and gas group. Santos shares closed at $A6.23 on 15 May, and analysts say Harbour Energy may need to increase its initial offer if it opts to make a formal bid.

CORPORATES
SANTOS LIMITED – ASX STO, HARBOUR ENERGY LIMITED, ENN ECOLOGICAL HOLDINGS COMPANY LIMITED, HONY CAPITAL, CITIGROUP PTY LTD, EIG GLOBAL ENERGY PARTNERS, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. FOREIGN INVESTMENT REVIEW BOARD, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED