It is the opinion of author, David Washington, who says "Harbour Energy has slammed Santos's diminishing contribution to South Australia after the Adelaide-headquartered oil and gas giant rejected Harbour's takeover offer."
There is no factual basis as to why Harbour's takeover offer would be value acretive to South Australia. In fact, referenced within that article it goes on to state "Former Treasurer, Labor frontbencher Tom Koutsantonis, welcomed the Santos move, saying the Harbour takeover “would have have risked jobs, investment & importantly a HQ in SA”."
So yes, of course Harbour Energy is disgruntled - they were trying to increase their exposure to this asset class in Australia and got told where to go.
When you go shopping for a car from a dealer, and the dealer refuses to accept your offer, does this failed purchase change your consumer preference toward cars, or does it make you even more determined to find a bargain?
SXY Price at posting:
44.0¢ Sentiment: Buy Disclosure: Held
