By Robb M. Stewart
MELBOURNE, Australia — U.S.-based Harbour Energy Ltd. on Tuesday launched a fresh takeover bid worth nearly $10.4 billion for Santos Ltd.
It was the fourth time since August that private-equity firm Harbour Energy bid for Santos /zigman2/quotes/207349564/delayed AU:STO -1.73% , which owns vast oil-and-gas acreage in Australia and is a partner in liquefied natural gas ventures stretching from the north of the country to Papua New Guinea.
On Tuesday, Harbour Energy said it would offer $4.98 a share for Santos, a 28% premium to its last closing price. Santos received the most recent bid just before Easter.
Santos said it entered into a confidentiality agreement with Harbour to allow its suitor to go through its books, adding that a board committee was set up to consider the bid. Harbour Energy is an energy investment vehicle formed by EIG Global Energy Partners.
How a digital wardrobe can fuel the $18 billion re-commerce industry
Digital startup Finery has created a wardrobe operating system that enables consumers to monetize the unworn clothes hanging in their closets, which amount to 80% of the average wardrobe in the U.S.
Also popular on WSJ.com: