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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Last
$6.85 |
Change
-0.070(1.01%) |
Mkt cap ! $22.24B | |||
| Open | High | Low | Value | Volume |
| $6.83 | $6.89 | $6.80 | $49.90M | 7.300M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 35114 | $6.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.86 | 11500 | 1 |
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| STO (ASX) Chart |