Santos Further Extends Due Diligence Exclusivity for Abu Dhabi-Led Consortium

MT Newswires Live

Aug 25

Santos (ASX:STO) has extended again its exclusivity agreement granting due diligence access to a consortium led by XRG, a unit of Abu Dhabi National Oil Company, to Sept. 19 from its earlier deadline of Aug. 22, over a non-binding proposal to acquire the company for $5.76 per share in cash, according to a Monday filing with the Australian bourse.

On June 29, the company granted the Consortium due diligence access for six weeks.

The company has advised shareholders not to take any action at this time.

Shares of the company rose 1% in recent Monday trade.

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