Why is this a problem at all?
Their debt isn't unacceptable. The problem for Santos is they deal in AUD and owe USD whilst the gov has a vision for a lower AUD.
For a company that is already established in USD the debt isn't so unrealistic, in fact considering the value of STO projects it's a small price to pay for the returns. STO's issues are short to medium term, but long term these projects are totally worth the associated debt.
An Australian owned and operated takeover is unlikely, but foreign entities would be keenly interested and properly suited for such an investment.
That said, it would be extremely disappointing if Australia's richest allowed another iconic Australian company to end up under foreign ownership - but I won't start that rant just yet, too early on a Monday morning to throw a fit.
Takeover Looming, page-12
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