SYDNEY—Australian gas producer Santos Ltd said on Tuesday it would “engage with” Harbour Energy after receiving a $10.4 billion takeover offer from the U.S. company, its fourth unsolicited bid since August 2017.
The bid, valuing Santos at a 28 percent premium to its last close, would give Harbour access to a recently revived company with a low cost of oil production and stakes in liquefied natural gas (LNG) in the Asia-Pacific, where demand is soaring.
