Middle East oil giant abandons $30 billion bid for Australia’s Santos (ASX: STO)
Martin said, “An unsuccessful transaction is a doubt in the market,” he said. “It is unlikely that Santos will remain in his current form.”
Jarden Analyst Nik Burns said that the proposal of the Santos shareholders will be “rotten ıyla with shock withdrawal. Saul Kavonic from MST Financial said Santos might have to think of a “renovated leadership and strategy ..
“Santos must still be an opportunity to sell some beings to realize the value and finance more growth… But it is not clear whether this is under the current leadership,” he said.
Sources briefed about unsuccessful acquisition negotiations demanding anonymity to discuss hidden details, and the indicator of the bid consortium said that a number of problems that led to rethinking a share of a share of US $ 5.76 ($ 8.66) said.
These issues contained a surprise letter from Santos on Monday, and Santos showed that I would not be willing to give my consortium more extension to continue to go beyond Friday. XRG and its partners were already given two extensions to the exclusivity process.
” [Santos] He wanted to put a timeline on the Board, a source.
Others familiar with negotiations pointed out to the friction caused by the difficulty of taking responsibility for Santos’s consortium’s multimilyon -dollar tax bill. The company has to pay the new Guinea government in 2026.
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In a statement, Santos said that he “expressed his concern” about the consortium about locking delays into a binding agreement.
“The XRG consortium will not accept the acceptable conditions that maintain the value of the potential process for Santos shareholders, and that the possible long -term time frame and the regulatory risk associated with transaction,” he said.
Even before the negotiations were broken, there were doubts about whether the inheritance led by Abu Dhabi examined the potential risks of delivering Santos’s Australian energy infrastructure to foreign owners at a time when domestic deficiencies emerged.
Santos, which produces and exports Super -heated LNG from Queensland, Darwin and Papua New Guinea, is an important supplier of indigenous gas used by millions of houses and businesses in Australia through operations in Eastern and Western Australia.
“Focusing on LNG markets by ADNOC may contradict Australia’s energy safety and economic interests, ankıl
Australian governments and major gas users have long been concerned that LNG has contributed more than the local market than the GLNG attempt in Queensland, and that it has worsening a domestic supply crisis in Victoria and NSW.
Representing workers on Australia’s open marine oil and gas platforms, the union officials argued that Santos should not be sold to Adnoc because Santos belongs to the Abu Dhabi government in the United Arab Emirates. Offshore Alliance, a partnership between the Australian Workers’ Union and the Australian Maritime Union, said that the United Arab Emirates forbids trade unions, prevented and prohibited strikes in a mission on social media.
“The Australian government must hold Santos in the hands of Australia and Santos should prevent the sale of a government, one of the worst labor exploitation of the world,” he said.
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Adnoc and XRG can return with another offer for Santos, or seek other agreements to maintain their expansion to Australia, which they see as an integral part of the global gas market. Australia is one of the largest exporters of LNG in the world behind the United States and Qatar.
The reporter went to Abu Dhabi as the guest of Abu Dhabi National Oil Company between 14-16 September.
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