Harbour Energy offered to by Santos for $11.9bn.

Harbour Energy, a global oil & gas company founded by EIG Global Energy Partners, offered to by Santos, a predominantly Australian energy compan, for $11.9bn. The offer was lapsed on May 22, 2018. After careful consideration of all aspects of the proposal, the Santos independent directors and Managing Director & CEO have unanimously resolved to reject the offer on the basis that it does not represent a full value of the company and, when combined with the associated risks, is not in the best interests of Santos shareholders.