Harbour Energy lifts bid for Santos to $14.4b
The new offer is $US5.21 a share, which is equivalent to $6.95 a share at an exchange rate of US75¢. Harbour said the offer price would be increased to a US dollar amount equivalent to $7 a share if Santos agreed to hedge 30 per cent of oil-linked production in 2020.
Harbour had made its bid official only last Thursday at $US4.98 a share, a level a number of analysts suggested was about $500 million to $1 billion below the price the Australian oil and gas producer would be willing to accept.
Say No To Linda.
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Harbour Energy, page-113
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