Consortium led by ADNOC withdraws offer for Australian energy company, Santos
The XRG Consortium, a group led by Abu Dhabi's international investment arm XRG, ADQ, and private equity firm Carlyle, has withdrawn an indicative offer worth $18.7 billion to acquire Australian gas producer Santos.
The announcement, made on Wednesday, ends a months-long takeover saga for Santos, which began with the initial indicative offer back in [previous context].
The consortium had initially made the offer to acquire Santos, a move that was met with much anticipation in the industry. However, the offer was not binding, and Santos has yet to comment on the matter.
Following the withdrawal of the offer, Santos has also remained silent, not issuing a statement or comment on the situation.
The withdrawal of the offer leaves the future of Santos' acquisition uncertain, as the company has not yet responded to a request for comment.
The XRG Consortium, which also includes Abu Dhabi Developmental Holding Company PJSC and The Carlyle Group Inc., had initially made the offer as part of a consortium led by XRG. The offer was for the acquisition of Santos, an Australian gas producer.
The withdrawal of the offer marks the end of the takeover saga for Santos, but the company's future remains uncertain as it has yet to respond to the withdrawal.
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