The Strategist

Australia's Woodside and Santos may merge to form a company valued at over $51B



12/08/2023 - 05:04



Woodside Energy and Santos, two Australian producers of oil and gas, are in merger talks.



Australia's Woodside and Santos may merge to form a company valued at over $51B
According to Woodside, discussions are private and not yet concluded. However, there's no assurance that it will result in a sale.

Furthermore, Woodside and Santos stated that they are always looking for ways to enhance value for their investors. Specifically, the latter is investigating several "alternative structural options."
In Thursday's Sydney session, Woodside's market capitalization increased by 0.4% to approximately A$56 billion ($36.8 billion). In the most recent session, Santos' market value increased by 0.7% to approximately A$21.9 billion ($14.4 billion).

As a result, the merged business might be worth $51.2 billion.

The Wall Street Journal notes that if the agreement between Woodside and Santos goes through, it will rank among the biggest in the energy industry this year.

source: wsj.com

 




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