Reported about 21 hours ago
Abu Dhabi National Oil Co. (Adnoc) has made an ambitious offer of $18.7 billion for Australia's Santos Ltd., aiming to enhance its liquefied natural gas production. The deal, if approved by Australian regulators, would allow Adnoc to gain stakes in significant operations in Australia and Papua New Guinea. Santos' board has recommended the offer, which represents a substantial premium to recent share prices. Despite the bullish outlook, analysts caution potential regulatory challenges that could impact the acquisition process.
Source: YAHOO