Santos could not wait for Eastern Star Gas to fall into its lap, swooping on the biggest coal seam gas player in NSW this week with a $924 million scrip bid for the 80 per cent of the company it did not already own. The offer was worth 90¢ a share.
The pair shared Gunnedah Basin gas field acreage in the state’s north but had increasingly different ideas what to do with it.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
