Summary: Abu Dhabi’s state-owned oil company, Abu Dhabi National Oil Company, is leading a takeover bid for Australian energy group Santos, valuing it at US$18.7 billion. The bid, made through a consortium led by ADNOC’s subsidiary XRG, aims to build on Santos’ legacy as a trusted energy producer and strengthen domestic and international energy security. Santos’ board plans to recommend the offer to shareholders if terms are agreed upon.

Link: https://www.businesstimes.com.sg/companies-markets/energy-commodities/abu-dhabi-state-oil-firm-makes-us18-7-billion-bid-australias-santos