Harbour revises Santos bid

Santos has received a revised proposal from Harbour Energy that changes the transaction structure but not the price offered per share.

The revised proposal involves no change in the original price offered of US$4.98 (AU$6.50) per share, but changes the structure of the transaction by:

  • A US dollar offer of cash consideration for shareholders other than ENN and Hony, with no fixed Australian dollar component
  • An offer to ENN and Hony to rollover their existing Santos shares into a Harbour investment vehicle and subscribe for new shares. This option is not available to other Santos shareholders.

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