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Australia's Santos gets $10.4 billion bid from Harbour; investors may want more

Reuters  |  SYDNEY 

By Byron Kaye and Sonali PaulSYDNEY (Reuters) - U.S. investment fund Harbour Energy formalised its $10.36 billion bid for Australia's Santos Ltd on Thursday but failed to sweeten its offer, dashing hopes of a higher price and sending the oil and gas producer's shares lower.A successful bid would mark the biggest takeover of an Australian oil and gas producer, but Adelaide-based Santos has indicated the company may be worth more because of recent gains in the oil price.Santos shares dipped 2 percent to sit below the offer price, with analysts suggesting the company may reject the bid as too ...

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First Published: Thu, May 17 2018. 09:43 IST
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