Reported about 15 hours ago
Australian oil and gas company Santos has agreed to back a takeover bid valued at $18.7 billion from a consortium led by Abu Dhabi's National Oil Company (ADNOC). The offer, which comes amid rising oil prices and geopolitical tensions, includes a premium on Santos shares. The deal will require regulatory approvals and support from at least 75% of Santos investors, with analysts noting potential risks related to regulatory hurdles. The acquisition aims to enhance ADNOC's global gas business by gaining control of Santos' valuable LNG operations.
Source: YAHOO