MELBOURNE: Australian gas producer Santos Ltd said it rejected a A$9.5bil (US$7.2bil) takeover approach in August, sending its shares up 13% on speculation another offer was likely to emerge.
Santos, with stakes in three liquefied natural gas (LNG) projects in a region where gas demand is soaring, said it rebuffed the approach from private equity-backed Harbour Energy as too cheap and has not received a further proposal.
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