Woodside withdraws Oil Search takeover offer

Australia’s energy company Woodside has withdrawn its offer for Oil Search takeover.

Woodside on Tuesday said it had informed the Oil Search Board of the withdrawal of its proposal to merge the businesses.

On September 3, 2015, Woodside provided Oil Search with a proposal to merge Woodside and Oil Search through a scheme of arrangement.

According to Australian media, the potential transaction had been estimated at around $8.1 billion. Also in September,  the Oil Search board rejected the Woodside proposal, saying it was “highly opportunistic and grossly undervalues the company”.

“Woodside is not pursuing any alternative transactions to combine the businesses,” Woodside said on Monday.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

08th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >

OIL & GAS PHILIPPINES 2019

Oil & Gas Philippines event display products like Oil & gas, fire protection systems and materials…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply