PERTH (miningweekly.com) – Oil and gas major Santos on Thursday refuted claims that it was engaged in takeover talks with Harbour Energy.
The company told shareholders that it had received a confidential, nonbinding conditional and indicative proposal from Harbour Energy in August, to acquire all the shares in Santos for an indicative price of A$4.55 a share.
However, Santos said that the board had rejected the approach on the basis that the indicative price was inadequate, and that the source of the funding was uncertain.
Santos said that it was neither in discussions with Harbour, nor had it received a current proposal from the US investment company.