Harbour Energy and partners have submitted a binding bid for Santos, Street Talk can reveal.
It is understood Santos will disclose the $US4.98 a share offer on Thursday morning.
Santos is expected to say it is considering the offer from the global oil and gas player and its co-investors - ENN, Hony and Swiss commodities house Mercuria Energy. No agreement has been reached.
The offer is believed to be at the same price of Harbour Energy's indicative bid, which saw it granted due diligence last month, as flagged by this column.
That bid was worth $6.50 a share when it landed and is up towards $6.60 after currency movements. Harbour bid against itself three times to get to that mark and, with no rival bidder in the wings, it's understandably not keen to do so again.
It's now up to Santos to try and get Harbour Energy to bid against itself, again.
The key question is whether Harbour has been granted approval from Australia's Foreign Investment Review Board.
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Harbour Energy and partners have submitted a binding bid for...
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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Price($) | Vol. | No. |
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9 | 295156 | 6.900 |
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4 | 129828 | 6.880 |
Price($) | Vol. | No. |
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