, Bloomberg has reported, citing unnamed sources, who also said the UAE’s Adnoc was also studying an offer for the company. The bids were a demonstration of Middle Eastern energy companies’ interest in expanding their natural gas business internationally, the report said. This would make Santos quite the popular acquisition target after local rival Woodside tried to take over the company earlier this year.
'We continue to be disciplined in our approach to mergers and acquisitions and capital management to create and deliver value for shareholders,' Woodside chief executive Meg O’Neill said in a statement at the time. Reuters noted in a report on the news that Santos had a market cap of some $16.63 billion as of Wednesday, which rose after the news of the possible bids broke earlier today.