$7.50 a share?, page-54

Santos has received a formal bid for its Western Australian assets from a Macquarie Group-backed entity, Bloomberg reports.
It is believed the binding offer from Quadrant Energy comes in at around $1.5 billion for Santos’ 45 per cent stake in gas fields in the Carnarvon Basin. Quadrant, a joint venture of Brookfield Asset Management and Macquarie, secured the other 55 per cent through its founding purchase of assets from Apache Energy earlier this year.
The deal may also include a 37.5 per cent stake in the Fletcher Finucane oil field, but a Stag oil field partnership between Quadrant and Santos is likely to be left out as both firms seek a buyer for the asset, Bloomberg reported.
It has been reported that Santos will hold a board meeting today to discuss a range of offers for its assets, with its stake in the PNG LNG project also the subject of much interest. Talk earlier in the week suggested Japan’s Marubeni could pay as much as $2bn for a 3.6 per cent stake in the PNG development.