Australia's Santos eyes best week in over 2-1/2 years on $18.7 bln takeover offer

Shares of Australia's second-largest gas producer, Santos STO.AX, rise 11.4% so far in the week, set for their best week since early October 2022

Co on Monday said it plans to support an $18.7 billion takeover bid from an international consortium led by ADNOC

Citi sees the takeover bid as attractive for long-term Santos shareholders

However, Jarden, E&P Capital and Citi flagged regulatory hurdles, including due diligence and approval from the foreign investment review board

STO last up 0.13% takes YTD gains to 16.1% YTD