Oct 22 (Reuters) - Santos Ltd STO.AX :
* Santos rejects indicative acquisition proposal STO.AX
* Proposal is considered to be opportunistic in nature and does not reflect the fair underlying asset value of the company"
* Strategic review is ongoing, and will continue to consider all proposals which deliver appropriate value and certainty for shareholders"
* Says on 20 October 2015 received an indicative, highly conditional and non-binding proposal from scepter partners
* Says proposal to acquire all of Santos for a cash consideration of A$6.88 per share
* Source text for Eikon ID:nASX87dp7w
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