An XRG-led consortium that includes Abu Dhabi Development Holding Company (ADQ) and Carlyle, has officially withdrawn its $18.7bn (A$28.17) indicative offer to acquire 100% of the issued shares of Australian oil and gas producer Santos. The decision not to proceed with a binding offer comes after extensive evaluation and consideration of commercial factors. Last month, Santos reached an agreement to extend the Process and Exclusivity Deed (process deed) for a second time. This extension aimed to facilita ...