Santos said in a statement to the ASX on Tuesday evening that the final proposal from Harbour was a "highly leveraged private equity-backed structure" that prior to implementation would have required Santos to provide significant support for Harbour's debt raising and to hedge a significant proportion of oil-linked production.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
