Santos rejected offer of Harbor Energy to buy it for 10 billion 860 million dollars

The Australian oil and gas company Santos rejected the offer of the US private equity fund Harbour Energy to purchase Santos for 10 billion 860 million dollars. In a press release, Santos said that the proposal “does not reflect the full value of the company and, taking into account the risks, does not meet the interests of shareholders”. Santos also said that it is stopping all negotiations with the fund, which originally rated the Australian company at 4 dollars 98 cents per share, and on May 19 increased the offer to 5 dollars 12 cents per share. In early April, Santos granted the US fund access to its documents for a comprehensive examination and, after its completion, expected improvement in supply.

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