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.
25 Articles
25 Articles
Treasurer flags tax reform to tackle declining economic productivity
Treasurer Jim Chalmers has said he'll make the case for significant tax reforms - a major expansion of the second term's agenda. Chalmers says the changes are necessary to revive flagging economic productivity, which has left Australians worse off.
Chalmers Warns Australia’s Isn’t Resilient Enough to Global Volatility
Good morning, it’s Ben here in chilly Canberra, this is what’s making headlines this morning.Today’s must-reads:• Treasurer Jim Chalmers issues warning on economy• Iron ore futures sink on falling China demand• PM Albanese misses out on a meeting with Trump
Australia’s re-elected government focused on economic resilience, treasurer says
SYDNEY (Reuters) -Australia’s Labor government, elected for a second term last month, is focused on improving productivity, addressing the budget deficit and building a resilient economy as global volatility spikes, Treasurer Jim Chalmers will say on Wednesday. In a speech at the National Press Club, Chalmers will say that tackling sagging productivity is the government’s primary focus, after voters delivered Labor a landslide victory last month…


‘Perilous’: Chalmers’ inflation warning
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