Santos shares surged over 15% following a $18.7 billion takeover bid by a consortium led by a unit of Abu Dhabi's National Oil Company. The consortium also includes the Abu Dhabi Development Holding Co and global private equity firm Carlyle Group.

Abu Dhabi's National Oil Company (ADNOC), looking to grow a global gas business, is leading a proposed $18.7 billion takeover of Australia's second-largest independent gas producer, Santos , which has backed the planned bid.

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