institutional access

You are connecting from
Lake Geneva Public Library,
please login or register to take advantage of your institution's Ground News Plan.

Published loading...Updated

Australia’s Re-Elected Government Focused on Economic Resilience, Treasurer Says

  • Last week, the XRG Consortium announced a $28.8 billion takeover bid for Santos at $8.89 per share, offering a 28% premium and triggering regulatory reviews.
  • Driven by growth ambitions, the consortium offers A$8.89 per share at a 28% premium, following two earlier bids, to invest in Santos’s gas, LNG, and low-carbon projects.
  • Regulatory disclosures show the Santos board granted XRG consortium due diligence access, with approvals needed from ASIC, FIRB, and PNG authorities, amid a 28% premium valuation.
  • Shares rose 12.6%, but remain below the $8.89 bid, prompting the South Australian government to threaten intervention if the deal is not in state interests.
  • Approvals from Papua New Guinea and Alaska are pending, with final decision-making resting with Treasurer Jim Chalmers, as XRG seeks an exclusivity deed to advance the deal.
Insights by Ground AI
Does this summary seem wrong?

25 Articles

All
Left
5
Center
2
Right
5
The AustralianThe Australian
Reposted by
The Weekly TimesThe Weekly Times
Lean Right

‘Perilous’: Chalmers’ inflation warning

·Australia
Read Full Article
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 42% of the sources lean Left, 42% of the sources lean Right
42% Right
Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

Australian Financial Review broke the news in Sydney, Australia on Sunday, June 15, 2025.
Sources are mostly out of (0)

You have read 1 out of your 5 free daily articles.