Inside the Collapse of the $19 Billion Santos Takeover

Happy Friday, it’s Carmeli here in Sydney. The ASX looks set to open higher this morning, but first here’s the latest news to take you into the weekend.
Today’s must-reads:
What finally tipped the $19 billion Santos takeover over the edge? Trust frayed over reports of a methane leak that bidders led by Abu Dhabi National Oil Co. learned of through the media, not the company. The late-stage breakdown — Santos’ third failed deal under CEO Kevin Gallagher — wiped A$3 billion off the firm’s market value yesterday.
More Australian retirees are renting than ever, as soaring housing costs and longer working lives expose the limits of the nation’s much-lauded pension system. The portion of retirees living in private rentals has doubled over the past two decades to 12%, according to a government-funded survey out Friday.