Australia's second-largest gas producer Santos said on Monday it intended to support an all-cash $18.7 billion takeover bid from an international consortium led by Abu Dhabi's National Oil Company (ADNOC),

Santos, an Australian oil and gas producer, has announced the receipt of a non-binding indicative proposal from a consortium led by the Abu Dhabi National Oil Company (ADNOC) to acquire all the ordinary shares of Santos through an arrangement process.

A consortium led by Abu Dhabi National Oil Company (Adnoc) has launched an all-cash US$18.7 billion takeover bid for ASX-listed energy company Santos.