And the run to continue with this news:
A privatised Santos would be run by former managing director John Ellice-Flint and chase further international growth with Brunei and Dubai royalty funds under a $7.14 billion cash proposal from Scepter Partners that was rejected by the Santos board yesterday.
Indicating that Scepter is not giving up the chase, the private equity fund last night confirmed it planned to install Mr Ellice-Flint as executive chairman if it was successful, pledged to keep Santos Adelaide-based and said it had the funds to invest in more large global transactions.
“Our vision is to build Santos into an Asian oil and gas leader, based in South Australia, harnessing the skills and experience of the Santos workforce,” Mr Ellice-Flint said.
Yesterday morning, Santos revealed its board had rejected an “indicative, highly conditional and non-binding” proposal of $6.88 a share from Scepter.
“The proposal is considered to be opportunistic in nature and does not reflect the fair underlying asset value of the company,” the company said.
http://www.theaustralian.com.au/bus...7bn-takeover-bid/story-e6frg9df-1227579127606
Where to from here???, page-3
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