It is a low ball offer with many conditions attached. I bet you one would be getting rid of the board and management. Santos would then be managed by Scepter as a privately owned company in this case..
Santos rejects indicative acquisition proposal:
Santos Limited advises that on 20 October 2015 it received an indicative, highly conditional and non-binding proposal from Scepter Partners (Scepter), on behalf of the managed funds of its core stakeholders, to acquire all of Santos for a cash consideration of A$6.88 per share (Proposal).
Santos should accept offer of $6.88, page-4
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Mkt cap ! $23.48B | |||
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| 3 | 10011 | $7.22 |
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|---|---|---|
| $7.23 | 15000 | 1 |
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