Withdrawal spares federal government from making high-stakes decision on whether to back the deal
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An Abu Dhabi-led consortium has withdrawn its $30bn takeover bid for Australian oil giant Santos, sparing the federal government from making a high-stakes decision on whether to back the deal.
XRG, the investment arm of the Abu Dhabi National Oil Company, said in a statement late on Wednesday that “a combination of factors” had affected its assessment, without elaborating.
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