Santos Limited (ASX:STO) Receives Indicative Acquisition Proposal from XRG Consortium
Acquisition Proposal
Santos Limited (ASX: STO) has received a non-binding proposal from the XRG Consortium to acquire all ordinary shares for US$5.76 (A$8.89) per share.
Indicative Proposal Details
The proposal offers a 28% premium to the last closing price and higher premiums based on volume weighted average prices over different periods.
The Indicative Proposal is expressed as a “final non-binding indicative offer”. It follows two confidential, nonbinding and indicative proposals on 21 March 2025 for US$5.04 (A$8.00) in cash per share and on 28 March 2025, for US$5.42 (A$8.60) in cash per share.
Key Conditions
The offer is contingent on satisfactory due diligence and the negotiation of a scheme implementation agreement, including customary regulatory approvals.
Next Steps
The Santos Board will recommend shareholders vote in favour of the acquisition, subject to agreement on terms and independent expert validation.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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