Adelaide-based Santos said that XRG, comprised of the Abu Dhabi National Oil Company, Abu Dhabi Development Holding Company and US private equity fund Carlyle, had tabled an indicative cash offer of US$5.76 a share — equivalent to A$8.89 — which represented a 28 per cent premium to the company’s closing share price last week.

Four board members including the company’s chairman acquired the shares in March in the weeks before the first, unsuccessful takeover offer was tabled.

SYDNEY] Abu Dhabi’s state-owned oil company is leading a takeover bid for Australian energy group Santos, valuing it at US$18.7 billion, the two firms said on Monday (Jun 16). Read more at The Business Times.