Australian gas producer Santos rejects $7.2b takeover approach

Australian gas producer Santos rejects $7.2b takeover approach

A gas flare burns near a crude oil facility outside Williston, North Dakota, U.S., on Thursday, Feb. 12, 2015. Photographer: Daniel Acker/Bloomberg

Australian gas producer Santos Ltd said on Thursday it rejected a A$9.5 billion ($7.2 billion) takeover approach in August, sending its shares up 13 percent on speculation another offer was likely to emerge.

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