Santos takeover talk rekindled

Strong trading in Santos shares stokes fresh takeover talk.

Gas firm Santos Ltd is the target of fresh takeover talk after a spike in trading of the firm's shares, according to The Australian.

The rumours suggest Chevron or ExxonMobil may be interested in Santos as both companies seek to expand their presence in Australia's gas sector.

With Santos' $20 billion Gladstone LNG project stabilising the company has been seen as increasingly appealing (see Tim Treadgold's Santos fires up on LNG)

Neither Exxon nor Chevron would comment on the rumours, according to The Australian.

On Thursday's, Santos' stock hit a 52-week high of $14.27 before pulling back slightly at the close to finish at $13.97.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles