Santos Shores Up Sentiment as Bid Talks Edge Forward -- Market Talk

Dow Jones
08/25

0034 GMT - Santos's 1H result and extension of an exclusivity period with the XRG-led bid consortium support the energy company's stock in early trading. Santos's 1H underlying profit of US$508 million was some 3% better than the market expected, Citi says. Santos's dividend of 13.4 U.S. cents/share also topped hopes. Analyst Paul McTaggart highlights Santos's statement that the bid consortium hasn't discovered anything in due diligence to warrant it pulling its indicative takeover proposal. "We expect investors to welcome the clean process update, improved project visibility, and stronger capital returns, supporting the recent sentiment shift in Santos," Citi says. Santos rises 0.8% to A$7.82. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

August 24, 2025 20:34 ET (00:34 GMT)

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