But the offer for the ASX’s second-largest oil and gas producer has been met with a lukewarm reception from investors, who say the price could be higher.

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.

A consortium led by Abu Dhabi’s national oil company has made a $19bn bid to take over one of Australia’s largest energy groups. Santos said XRG, an investment arm of the Abu Dhabi National Oil Company,