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MARKETS

Harbour ups Santos bid for sixth time 

SANTOS said this morning that it has "received a binding, conditional proposal from Harbour Energy Australia" to acquire the company via scheme of arrangement for US$5.21 per share (A$6.95 based on an exchange rate of US75c) up from US$4.98 announced Thursday and $5.12 Saturday. 

Helen Clark
Santos CEO and managing director Kevin Gallagher.

Santos CEO and managing director Kevin Gallagher.

This takes the grand total to A$14.4 billion, the highest offer for an Australian energy company.    The revised offer is conditional on Santos undertaking additional hedging of oil-linked production...

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