santos hits out

From the couriermail today.



Santos hits out at QGC backflip Tony Grant-Taylor
November 14, 2006 11:00pm

RAIDER Santos yesterday said the decision by Queensland Gas (QGC) to not commission an independent report in the face of Santos's $606 million bid for the company was "a major backflip".

Santos chairman Stephen Gerlach said: "Only months ago (QGC) called for Sydney Gas (SGL) to provide an independent expert's report during QGC's takeover bid for that company."

He said that during the failed Sydney Gas bid, QGC had claimed Sydney Gas shareholders would be "better informed" if they were provided with such a report.

QGC directors made it clear to shareholders at their annual meeting on Monday that QGC's target statement, due out this morning, would contain no such report.

Mr Gerlach said QGC had claimed Sydney Gas's failure to engage an independent expert was a "major omission" in its target statement.


More below.



http://www.news.com.au/couriermail/story/0,23739,20759626-3122,00.html