Australian power firm Santos has introduced that it doesn’t anticipate to enter right into a binding takeover settlement with a consortium led by a subsidiary of the Abu Dhabi Nationwide Oil Firm (ADNOC) by the August 22 exclusivity deadline. Discussions between the 2 events stay ongoing.
The consortium, which additionally consists of Abu Dhabi Growth Holding Firm and Carlyle, has considerably accomplished its due diligence and has not discovered something that might trigger it to withdraw its non-binding proposal of A$8.89 ($5.74) per share.
Nonetheless, it has knowledgeable Santos that even when the phrases of a binding settlement have been settled, it might nonetheless not be ready to signal, as it’s but to acquire requisite ultimate inner approvals. The consortium has indicated these approvals may take 4 weeks or longer to safe.
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