One of Australia’s biggest corporate mergers is about to take place. It is the merger of Woodside Petroleum (WPL) with the oil and gas assets of BHP to create a global top 10 independent energy company by production. Here is what shareholders of BHP and Woodside need to know.
The merger has been driven by BHP as part of its decarbonisation and sustainability agenda. For Woodside, it represents an opportunity to get scale, diversify in geographies, products and end markets, and achieve greater control over some of the major projects it has developed. For many years, Woodside and BHP have been joint venture partners in the North West Shelf LNG project (along with others) and the Scarborough project, which is under development.
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