Santos Limited Receives Acquisition Proposal from XRG Consortium

Santos Limited ( (AU:STO) ) has provided an update.

Santos Limited has received a non-binding indicative proposal from the XRG Consortium, led by a subsidiary of Abu Dhabi National Oil Company, to acquire all ordinary shares of Santos at a cash offer price of US$5.76 per share. This proposal represents a significant premium over recent trading prices and is subject to due diligence and regulatory approvals. The Santos Board is considering the proposal and intends to recommend it to shareholders, pending agreement on terms and absence of a superior offer.

The most recent analyst rating on (AU:STO) stock is a Hold with a A$7.60 price target. To see the full list of analyst forecasts on Santos Limited stock, see the AU:STO Stock Forecast page.

More about Santos Limited

Santos Limited is a prominent company in the energy sector, primarily engaged in the exploration and production of oil and gas. It focuses on delivering sustainable energy solutions and has a significant presence in the Australian market.

YTD Price Performance: 6.80%

Average Trading Volume: 11,442,836

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$22.55B

For an in-depth examination of STO stock, go to TipRanks’ Overview page.