A consortium of powerful global energy investors, led by a former executive director of Royal Dutch Shell, Linda Cook, is said to have recently approached the Santos board with an invitation to support a scheme takeover of the battle-scarred pioneer of Australian domestic and export gas sector.
The indicative pricing of a pitch that is expected to be ready to re-present to Santos within weeks is circa $5.30 a share, which would represent a 21 per cent premium to Wednesday's closing price of $4.38, but a more modest 11 per cent over the recently achieved year high of $4.78.
That said, given the offer arrives with acceptable certainty and some potential for further discussion over a more appropriate control premium, there remains much to discuss, given that the indicative pricing would represent an 85 per cent hike on the year low of $2.87.
Read more: http://www.copyright link/business/11b-us-play-for-santos-20171115-gzm139#ixzz4yY9Hpcft
Follow us: @FinancialReview on Twitter | financialreview on Facebook
Takeover bid coming from Linda cook?, page-53
Add STO (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$7.02 |
Change
-0.005(0.07%) |
Mkt cap ! $23.02B | |||
| Open | High | Low | Value | Volume |
| $7.00 | $7.08 | $6.98 | $19.96M | 2.840M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 27338 | $7.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.02 | 49035 | 26 |
View Market Depth
| Last trade - 12.00pm 01/10/2024 (20 minute delay) ? |
| STO (ASX) Chart |