Santos has announced an all cash offer for Queensland Gas Company Limited (QGC) offering $1.26 cash per share, representing a 24% premium to Queensland Gas' closing share price of $1.02 on Tuesday.
Ellice-Flint, said the acquisition of QGC is a logical transaction for Santos, and is consistent with STO's strategy to extend and enhance their core eastern Australia gas business”.
As supporter and holder of COI, a CSG player, comms before on hotcopper have tossed up whether COI would eb on the radar, or at least its CSG interest relating to Tipton West and Mahalo.
Given STO appetite for csg plays becoming a more strategic fit, my view is COI is a potential play for them.
STX has 10% (I think) ownership and management synergies with COI.
COI Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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