Santos just turned down a $10B takeover bid as too low

[Scotsman + 14]

Crazy oil prices are having an affect on M&A. Because of high oil prices, Australian Santos now thinks the $10-billion takeover bid is too low. Not sure they're being realistic?

https://www.wsj.com/articles/santos-rejects-more-than-10-billion-offer-as-oil-prices-rise-1526990610

[TraderTate + 186]

Very likely they will be regretting this when oil prices settle down to what they should be, fundamentally.