It was all the rage last year, up until 1 Sept 09 when the shareholder cap was lifted.
The share price rose to $16, and there was speculation that Santos would be taken over.
Since then, nothing has happened. So I'd say all takeover speculation has been washed out of the share price.
There is also some concern as to whether Santos has enough reserves for a second LNG train at Gladstone, and whether they need to find an alternative source (e.g. ESG).
I'd say ESG will be taken over before Santos is taken over.
acquisitions/takeover, page-2
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