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Santos shares soar over 15% on ADNOC-led group's $18.7 billion takeover bid

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Shares of Australian oil and gas producer Santos surged as much as 15.23% Monday following a $18.7 billion takeover bid by a consortium led by Abu Dhabi's National Oil Company .

The move marks the biggest intraday jump in the company's shares since April 2020 .

The consortium also includes the Abu Dhabi Development Holding Co and global private equity firm Carlyle Group .