Woodside, Santos confirm merger talks
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The news: ASX-listed energy giants Woodside and Santos have confirmed they are in discussions over a potential merger.
The numbers: Woodside has a market capitalisation of $43 billion, while Santos' equity is worth $22 billion.
What they said: "Woodside confirms it is in discussions regarding a potential merger with Santos Ltd. Discussions remain confidential and incomplete, and there is no certainty that the discussions will lead to a transaction.
As a global energy company, Woodside continuously assesses a range of opportunities to create and deliver value for shareholders. Woodside will continue to update the market in accordance with its continuous disclosure obligations."
"Santos confirms it has engaged in preliminary discussions with Woodside regarding a potential merger. Santos continuously reviews opportunities to create and deliver value for shareholders.
Concurrently, Santos is assessing a range of alternative structural options with a view to unlocking value as referred to on Santos’ investor day on 22 November 2023.
The consideration of any merger is at an early stage and there is no agreement between the parties. There is no certainty that any transaction will eventuate from these discussions."
The sources: Santos ASX release , Woodside ASX release
