May 22, 2018 / 9:33 AM / 3 months ago

Australia's Santos rejects Harbour Energy's final $10.8 billion takeover offer

(Reuters) - Australia’s Santos (STO.AX) said on Tuesday it terminated discussions with Harbour Energy and rejected the U.S.-based firm’s final takeover offer of $10.8 billion (8 billion pounds).

FILE PHOTO: The logo of Australian oil and gas producer Santos Ltd is pictured at their Sydney office February 15, 2016. REUTERS/Jason Reed/File photo

“(The board) resolved to reject the final proposal on the basis that it does not represent a full value of the company,” Santos said in a statement.

Harbour made the final offer for Santos this week, hiking its bid for a fifth time in nine months after a steep rise in oil prices.

Reporting By Rushil Dutta in Bengaluru; Editing by Himani Sarkar

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below