PERTH (miningweekly.com) – Oil and gas major Santos has urged shareholders not to take any action in relation to the Harbour Energy takeover offer, after media speculation that shareholders in the company had accepted the offer, emerged.
Reports on Tuesday suggested that Santos shareholder ENN Ecological Holdings, which holds a 10.31% interest in the company, had entered a trading halt on the Shanghai Stock Exchange in connection with a preliminary agreement with Harbour.
Santos told shareholders that it had not received any notification of an agreement between Harbour and ENN, or any change in substantial holding in relation to its shares.
Harbour in April made a A$13.5-billion offer for Santos, offering shareholders $4.98 a share, or A$6.50 equivalent, following three failed unsolicited offers for Santos, the last of which was priced at A$6.37 a share.