This is apropos of nothing, but at this price, I can see a takeover target on STO back more clearly now than any time in the past.
Market Cap is ~$6bn
Asset Value of GLNG alone is $20bn (leaving out the $5bn blowout)
Santos' other assets in the Cooper Basin (Moomba/Ballera) and the NT (Mereenie) as well as offshore would make it a nice cheap foothold for someone to join moves by other international majors, Chevron (Wheatstone), Shell (QGC/BG), ConocoPhilips (APLNG) and ExxonMobil (Gorgon).
My guess would be BP, as they have a toehold in Browse as a minor JV partner. In the Shell bid for BG, they posted a 3GBP per share bonus as well as a 0.445 swap to Shell B shares for BG Shareholders. This was a nice, rich deal to presumably nullify any protracted wranglings.
The David Knox move to lift the 15% foreign ownership cap imposed by the SA government facilitates a takeover, hostile or otherwise.
Having said that, I'm not sure I would put my money where my mouth is just yet
Must be a painful watch for mum n dad investors though, seeing this bluechip taking a near geometric race to the bottom.
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$7.62 |
Change
0.160(2.14%) |
Mkt cap ! $24.74B |
Open | High | Low | Value | Volume |
$7.50 | $7.62 | $7.48 | $139.7M | 18.17M |
Buyers (Bids)
No. | Vol. | Price($) |
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2 | 264300 | $7.62 |
Sellers (Offers)
Price($) | Vol. | No. |
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$7.63 | 118462 | 13 |
View Market Depth
No. | Vol. | Price($) |
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1 | 105 | 7.560 |
1 | 1450 | 7.550 |
1 | 800 | 7.510 |
1 | 68 | 7.500 |
1 | 2000 | 7.470 |
Price($) | Vol. | No. |
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7.630 | 100 | 1 |
7.640 | 5000 | 1 |
7.650 | 30221 | 14 |
7.660 | 2870 | 1 |
7.670 | 9807 | 3 |
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