Australia’s Santos receives takeover offer from ADNOC valuing firm at $18.7 billion

(Reuters) -Australian oil and gas producer Santos said on Monday it has received a nonbinding indicative proposal from a consortium led by XRG P.J.S.C., a subsidiary of Abu Dhabi National Oil Company and others, to acquire all shares in the firm at $5.76 per Santos share.

The offer values the firm at $18.72 billion.

(Reporting by Shivangi Lahiri in Bengaluru)