By Scott Murdoch and Christine Chen

SYDNEY (Reuters) – Australian gas producer Santos’ shares fell nearly 14% on Thursday after a consortium led by Abu Dhabi National Oil Company scrapped its $18.7 billion bid for the company, saying commercial terms could not be agreed.

While analysts raised concern about a third failed takeover bid for Santos in seven years, investors shrugged it off, saying the company was set to benefit from two projects due to start producing soon in Australia and Alaska.

“They should just get on with managing the business and hopefully the cash flows will come through and be reflected in the share price over time,” said Andy Forster, a portfolio manager at Argo Investments, a top 10-shareholder in Santos.

XRG, ADNOC’s overseas unit, baulked at proceeding with a d

See Full Page