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The Guardian - AU
The Guardian - AU
National
Jonathan Barrett and Luca Ittimani

$30bn Santos takeover collapses after Abu Dhabi consortium withdraws offer

Santos Abu Dhabi XRG
An Abu Dhabi-led consortium has dropped its $30bn takeover bid for Australian gas giant Santos.
An Abu Dhabi-led consortium has dropped its $30bn takeover bid for Australian gas giant Santos. Photograph: Jason Reed/Reuters

An Abu Dhabi-led consortium has withdrawn its $30bn takeover bid for Australian oil giant Santos, sparing the federal government from making a high-stakes decision on whether to back the deal.

XRG, the investment arm of the Abu Dhabi National Oil Company, said in a statement late on Wednesday that “a combination of factors” had affected its assessment, without elaborating.

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