The Santos board had expressed its concern to the XRG consortium about delays in finalizing a scheme implementation agreement, according to an emailed statement from the company.
- Consortium wouldn’t agree to “acceptable terms which protected the value of the Potential Transaction for Santos shareholders,” Santos said
- Consortium also wouldn’t agree “to an appropriate allocation of risk between the XRG Consortium and Santos shareholders under the SIA,” according to Santos
- Chair Keith Spence says board is confident in the company’s strategy, leadership and growth opportunities
- NOTE:
Abu Dhabi’s XRG Walks Away From $19 Billion Santos Takeover
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