Santos, Oil Search Merger Creates $16 Billion Giant ...Middle East

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Santos, Oil Search Merger Creates $16 Billion Giant
source : OILPRICE ( Middle East ) () 4
Two Australian energy heavyweights are set to merge in a move that will create a company worth $16 billion that will rank among the 20 biggest in the industry globally. Oil Search today recommended an improved takeover offer by Santos that would value the company at some $6.2 billion, according to Reuters. Bloomberg noted that the deal would create a rival for Woodside in the liquefied natural gas space. Per the terms of the deal, Oil Search shareholders would get 0.6275 new Santos shares for every Oil Search share they hold. This was the sweetened…

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