ADNOC's $18.7 Billion Santos Bid Flops - Why Foreign Buyers Keep Striking Out
Key Points
- ADNOC's $18.7 billion bid for Santos collapsed due to Austra...
When ADNOC walked away from their $18.7 billion Santos bid this September, they joined the growing club of foreign investors who learned that buying Australian assets is about as easy as getting Vegemite to taste good - theoretically possible, but practically challenging.
The UAE oil giant's consortium decided that wrestling with Australia's regulatory maze wasn't worth the headache, even for a company that literally drills through rock for a living. Their retreat marks the end of a takeover saga that had more twists than a pretzel factory, and raises some serious questions about whether fore...
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