Santos rejects Harbour, terminates discussions

After consideration of all aspects of Harbour Energy’s final proposal, the Santos independent directors and Managing Director and CEO have unanimously resolved to reject the bid.

In a statement released by Santos, it rejected the bid “on the basis that it does not represent a full value of the company and, when combined with the associated risks, is not in the best interests of Santos shareholders.”

Accordingly, Santos has now terminated all discussions with Harbour Energy.

In arriving at this decision, Santos has outlined some of the major issues they had with the bid.

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