News

Abu Dhabi cancels $30bn Santos takeover bid

Abu Dhabi’s $30bn Santos takeover bid scrapped amid concerns over commercial value and regulatory risks before final offer deadline

Published

3 weeks ago

September 18, 2025

Ahron Young

Abu Dhabi’s $30bn Santos takeover bid scrapped amid concerns over commercial value and regulatory risks before final offer deadline

In Short:
– Abu Dhabi’s $30 billion Santos takeover was abandoned just before a binding offer.
– Concerns over commercial value and regulatory issues prompted the withdrawal.

Abu Dhabi’s $30 billion takeover of Santos has been unexpectedly abandoned just 48 hours before a binding offer was set to be made.

The XRG consortium, which includes the state-owned oil and gas operator ADNOC and US private equity partner Carlyle, recently proposed an $8.89 per share offer after months of due diligence.

However, they cited concerns over commercial value as the reason for withdrawing their offer.In a statement, XRG confirmed it would not proceed with a binding offer for Santos but expressed a positive outlook regarding the company’s business.

Santos chairman Keith Spence reassured investors about the company’s strategy and leadership, emphasizing that the board is focused on long-term value.

Strategic Challenges

Several issues, including regulatory hurdles and potential delays, prompted XRG’s decision. Australian unions raised concerns about the impact of foreign investment on local jobs.

XRG acknowledged the Santos management’s support during the process and expressed hope for ongoing collaboration in Australia’s energy sector.

News

Israel and Hamas agree to landmark hostage deal

Israel and Hamas agree to release hostages in U.S.-brokered deal, marking a potential turning point in Gaza conflict.

Published

5 hours ago

October 10, 2025

ticker NEWS

Israel and Hamas agree to release hostages in U.S.-brokered deal, marking a potential turning point in Gaza conflict.

In a major diplomatic breakthrough, Israel and Hamas have agreed to release all remaining Israeli hostages under a U.S.-brokered framework. The deal pairs prisoner exchanges with an Israeli troop pullback and expanded aid access, marking a potential turning point in the two-year Gaza conflict.

The agreement, set for approval by Israel’s cabinet, could pave the way for lasting peace if both sides uphold the terms. It follows weeks of negotiations led by U.S. envoys and regional mediators in Egypt, Qatar, and Türkiye.

As international agencies prepare to facilitate aid and logistics, the world watches to see whether this fragile deal can hold and bring relief to millions affected by the war.

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News

Google leads Australia media tax rankings

Google leads in Australian media tax payments, unlike Netflix and others, igniting discussions on fairness and corporate responsibility.

Published

1 day ago

October 9, 2025

ticker NEWS

Google leads in Australian media tax payments, unlike Netflix and others, igniting discussions on fairness and corporate responsibility.

Google is currently on the of top of Australian media tax payments, while Netflix, Dentsu, and Singtel pay nothing, sparking a fresh debate over fairness and corporate responsibility in the industry.

#TaxTransparency #Google #Netflix #CorporateResponsibility #AustraliaBusiness