Takeover bid coming from Linda cook?, page-113

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