Market Mover | Santos shares jump 6% amid Middle Eastern energy giants' takeover interest
July 4th, 2024 - Today, shares of $Santos Ltd(STO.AU$ jumped over 6% following Bloomberg news that both Saudi Aramco and Abu Dhabi National Oil (Adnoc) are considering bids for the company.
Saudi Aramco and Adnoc are reportedly mulling separate takeover bids for Australian energy giant Santos, this move comes as these state-owned Middle Eastern energy groups look to expand their gas investments outside their home markets, according to insiders who spoke to Bloomberg.
Saudi Aramco did not immediately respond to Reuters' request for comment, while ADNOC declined to comment.
Source: Bloomberg, Reuters
Saudi Aramco did not immediately respond to Reuters' request for comment, while ADNOC declined to comment.
Source: Bloomberg, Reuters
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