Santos' board is seeking to shore up its defences with the...

Santos' board is seeking to shore up its defences with the appointment of an independent financial adviser.

As first reported by Street Talk on Monday, the board has called independent advisory firms, inviting pitches as part of a beauty parade to be held later this week. The role is expected to be providing advice to Santos' board.

The likes of Rothschild, Gresham and Luminis Partners are expected to pitch, sources said.

The selected firm will join Deutsche Bank in the Santos camp, which also includes former Lazard banker John Wylie and Jon North-run boutique, JB North & Co.


Herbert Smith Freehills is expected to be retained for the legal work.


It comes as United States-based Harbour Energy circles the Australian oil and gas company.

Investors expect Harbour Energy, which is backed by giant EIG Global Energy Partners, may return in the next few days with a higher buyout proposal than the $4.55 per share version in mid-August, which became public for the first time late last week after a story in The Australian Financial Review.

Harbour is taking its counsel from JPMorgan and Highbury Partnership.

Chinese gas distributor ENN and private equity firm Hony hold a combined 15.1 per cent stake in Santos and loom as the kingmaker in any future change of ownership at Santos.

Santos shares closed at $5.04 on Monday.




























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