0007 GMT - Morgans switches views on Santos as a consortium led by Adnoc unit XRG edges closer to a takeover. Morgans was initially concerned by the hurdles and timeline to a successful deal. Analyst Adrian Prendergast says his confidence on both factors has slowly improved as the process has progressed. "Now two months into the due diligence and formal negotiation process, it is clear to us that the Adnoc consortium remains just as motivated (if not more) to get the deal done," Morgans says. It also thinks there's a greater chance of Australia's treasurer and foreign investment watchdog approving a deal. That's because Adnoc can easily fund investments that improve domestic gas supply. Morgans upgrades Santos to accumulate, from trim. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
August 13, 2025 20:07 ET (00:07 GMT)
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