The Australian Financial Review (AFR) reported this morning that a US private equity firm was preparing an $11 billion takeover bid.
The AFR claims that US energy company Harbour Energy, supported by EIG Global Partners, approached Santos with a takeover bid valued at $5.30 per share.
However, Santos has released a statement confirming it is not currently engaged in discussions, and has not received a current proposal from Harbour Energy.
“On 14 August 2017 Santos received a confidential, non-binding conditional and indicative proposal from Harbour Energy to acquire all the shares in Santos by way of a scheme arrangement,”? read the statement.
“The indicative price was $4.55 per share.
“The Board rejected the approach on the basis that the indicative price was inadequate and the sources of funds were uncertain.”?