Abu Dhabi National Oil Company, along with investment group Carlyle, has made a takeover offer exceeding $36 billion for the Australian oil and gas company Santos. This significant bid has received support from the Santos board, but there remains uncertainty about whether the deal will ultimately be finalized.

The proposed acquisition highlights the growing interest in the energy sector, particularly from state-owned firms seeking to expand their portfolios. Despite the backing from Santos’s management, the outcome of this mega deal is still unclear, raising questions about potential regulatory hurdles and market reactions.