Australias Santos Gets Final Sweetened 108 Billion Bid From Harbour Energy

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– U.S.-based Harbour Energy made a final offer of $10.8 billion for Australia’s Santos Ltd (STO.AX) on Monday, hiking its bid for a fifth time in nine months after a steep rise in oil prices and potentially deterring any rival bids.

Shares in the oil and gas producer rose on the back of the sweetened bid but remained below the offer price amid uncertainty over whether the government would approve what would be the biggest takeover of an Australian resources company.

“You’ve got to think the new bump is going to make it more likely the board will approve it…But there are risks,” said Andy Forster, senior investment officer at Argo Investments, a top 10 shareholder in Santos.




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