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AAP
AAP
Business
Derek Rose

Santos extends deadline for $36b takeover for 2nd time

Santos Carlyle Oil
The consortium in late June floated a tentative price point of $US5.76 ($8.89) a share for Santos. (Matt Turner/AAP PHOTOS)

Negotiations for Australia's second-biggest oil and gas producer to be acquired for $36.4 billion by a consortium led by United Arab Emirates' state-owned oil company are dragging on but neither side is walking away from the bargaining table just yet.

Santos on Monday said it would grant the Abu Dhabi National Oil Company and investment group Carlyle a four-week extension of its exclusivity period to make a binding takeover offer, after previously granting the group a two-week extension that expired on Friday.

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