Santos shares fall as Saudi Aramco denies takeover interest
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The news: Saudi Aramco has denied media speculation saying it has been considering an offer for Santos, Reuters reported.
The numbers: Santos shares were down 0.7% to $7.95 by 11:40am AEST.
Its shares closed 4.17% higher on Thursday after Bloomberg reported that Saudi Aramco and Abu Dhabi National Oil Company (Adnoc) were considering separate takeover bids for the oil and gas major.
The context: Saudi Aramco said in an emailed statement to Reuters that the media reports linking the company to a possible bid for Santos were inaccurate.
Sourcing people with knowledge of the matter, Bloomberg reported that the state-owned Middle Eastern energy companies had been conducting initial evaluations of Santos as a possible acquisition target.
Adelaide-based Santos may also attract interest from other potential buyers, while suitors are yet to decide whether to proceed with any proposals, the people said.
The source: Reuters
