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$6.79 santos limited

Takeover bid coming from Linda cook?, page-117

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saracenm

213 Posts.

18

18/11/17

17:41

Post #: 28919906
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Originally posted by pear ↑

Hi saracenm

"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 of arrangement. The indicative price was AUD$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."

This was Santos disclosure on Tuesday. It looks like an offer to me.
There is no basis for not disclosing this immediately. Especially, since they rejected it out of hand.
If they were in actual discussion with them because of the confidential condition, they at the very minimum should have put the company on a trading halt.
If it wasn't an item worthy of disclosure, why then disclose it on Tuesday?

Pear

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Key words being "non-binding conditional and indicative proposal".

Which was only disclosed as there had been a leak via the AFR.

The Board are completely in the clear on this.

But this is another good reminder that no matter whats happens, people will be critical either way (disclose or non-disclose) on a non-binding bid.

STO Price at posting: $5.01 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $6.79		Change 0.000(0.00%)		Mkt cap ! $23.02B

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
2	5442	$7.15

Sellers (Offers)

Price($)	Vol.	No.
$6.46	432	1

View Market Depth

No.	Vol.	Price($)
4	129176	6.920
6	233123	6.910
9	295156	6.900
11	303505	6.890
4	129828	6.880

Price($)	Vol.	No.
6.940	107742	9
6.950	424616	27
6.960	247191	13
6.970	73167	4
6.980	17507	1

Last trade - 09.38am 06/11/2024 (20 minute delay)

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