Santos Limited has received a non-binding indicative acquisition proposal from the XRG Consortium, offering A$8.89 per share, presenting a significant premium and strategic investment opportunity.
Target Information
Santos Limited (ASX: STO), an Australian oil and gas producer, has received a non-binding indicative proposal from a consortium led by XRG P.J.S.C., a subsidiary of the Abu Dhabi National Oil Company (ADNOC). This consortium also includes the Abu Dhabi Development Holding Company (ADQ) and the Carlyle Group. The proposal, dated 13 June 2025, aims to acquire all outstanding ordinary shares in Santos for a cash offer price of A$8.89 (US$5.76) per share.
As of the proposal's announcement, this offer represents a significant premium over recent trading benchmarks. Specifically, it reflects a 28% premium to Santos' last closing price of A$6.96 and notably higher premiums against various volume-weighted average prices spanning different timeframes.
Access Full Deal Insights
You’re viewing a public preview of this deal. To unlock full access to ca. 50,000 other deals in our database and join ca. 400 M&A professionals who are using it daily, sign up for Dealert.
Industry Overview in Australia
The oil and gas industry in Australia is a vital sector of the economy, significantly contributing to national GDP and employment figures. Australia's vast natural resources position it as a major player in global en
Similar Deals
Medtronic plc → Anteris Technologies Global Corp.
2026
ADNOC-Carlyle Consortium → Santos
2025
NVIDIA → Firmus Technologies
2025
XRG Consortium
invested in
Santos Limited
in 2025
in a Public-to-Private (P2P) deal
Disclosed details
Transaction Size: $235M