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Oil Search turns down Woodsides $8.1bn acquisition proposal
2015-09-15 01:00:00| Hydrocarbons Technology
The Papua New Guinea (PNG)-focused Oil Search has rejected Australian energy major Woodside Petroleums proposal to acquire the company for A$11.6bn ($8.1bn).
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Oil Search rejects $8bn bid
2015-09-14 18:02:32| Oil & Gas - Topix.net
Oil Search rejected Woodside Petroleum's $8 billion takeover bid, saying the proposal undervalues the company's liquefied natural gas expansion plans in Papua New Guinea. "The feedback we got from all the major shareholders we consulted with confirmed that the proposal was one that should be rejected," Oil Search chairman Rick Lee said on a conference call Monday.
Oil Search to reject $11.6b deal after Woodside talks canned
2015-09-13 23:26:35| Energy - Topix.net
Oil Search will formally reject a $11.6 billion takeover bid from Woodside after the Papua New Guinea-focused energy producer dramatically cancelled a scheduled meeting with its rival in Sydney on Sunday to discuss the deal. Woodside's chief executive and chairman, Peter Coleman and Michael Chaney, were due to travel to Sydney from Perth to meet with their equivalents at Oil Search, Peter Botten and Rick Lee, for the first talks since the approach was tabled on September 3. However, it emerged on Sunday afternoon the meeting had been canned despite both sides agreeing to a time and venue late last week.
Oil Search to reject $11.6b deal after Woodside talks canned
2015-09-13 12:12:49| Oil & Gas - Topix.net
Oil Search will formally reject a $11.6 billion takeover bid from Woodside after the Papua New Guinea-focused energy producer dramatically cancelled a scheduled meeting with its rival in Sydney on Sunday to discuss the deal. Woodside's chief executive and chairman, Peter Coleman and Michael Chaney, were due to travel to Sydney from Perth to meet with their equivalents at Oil Search, Peter Botten and Rick Lee, for the first talks since the approach was tabled on September 3. However, it emerged on Sunday afternoon the meeting had been canned despite both sides agreeing to a time and venue late last week.
Australia's Woodside approaches Oil Search with $8 billion bid
2015-09-08 04:54:48| Oil & Gas - Topix.net
Woodside Petroleum Ltd, Australia's biggest independent oil and gas producer, has approached smaller rival Oil Search Ltd with an $8 billion all-share takeover plan, which Oil Search said on Tuesday it was considering. A takeover of Oil Search would help fill a gap in Woodside's growth prospects, giving it a 29 percent stake in Oil Search's Papua New Guinea Liquefied Natural Gas project, which started producing last year and is considered one of the lowest cost, expandable LNG projects in the world.
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