Santos always prepared to consider any takeover offers, CEO says

SYDNEY (Reuters) -Santos is always prepared to consider any takeover offers for the company, the Australian gas producer’s CEO Kevin Gallagher said on Friday, adding he would like to stay as CEO as long as he has the support of shareholders and the board.

An $18.7 billion bid for Santos by a consortium led by Abu Dhabi National Oil Company (ADNOC) collapsed on Wednesday over disagreements on commercial terms.

XRG, ADNOC’s overseas unit, baulked at proceeding with a deal after it was revealed capital gains tax payments were due soon on Santos’ assets in Papua New Guinea, according to a person familiar with the matter.

(Reporting by Scott Murdoch and Renju Jose in Sydney; Editing by Christopher Cushing)