logo
  

Woodside Petroleum To Acquire BHP Petroleum International

BHP Group (BHP.AX,BLT.L,BBL,BHP) and Woodside Petroleum Ltd (WOPEF.PK, WOPEY.PK, WPL.AX) said that they have signed a binding share sale agreement for the merger of BHP's oil and gas portfolio with Woodside. Woodside will acquire the entire share capital of BHP Petroleum International Pty Ltd in exchange for new Woodside shares.

On completion of the Merger, Woodside will issue new shares expected to comprise about 48% of all Woodside shares as consideration for the acquisition of BHP Petroleum. The new Woodside shares will be distributed to BHP shareholders as an in-specie fully franked dividend.

Completion is targeted for the second quarter of the 2022 calendar year.

In addition, BHP and Woodside are actively seeking necessary third-party consents resulting from the Merger and are working to secure these consents prior to Woodside shareholders voting to approve the Merger.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The US Centers for Disease Control and Prevention or CDC has ended recommendations for social distancing and quarantine with a view to minimize covid-19's impact on persons, communities, and health care systems. The agency also ended recommendation for test-to-stay in schools, CNN noted. Healthcare major Johnson & Johnson, which is in the middle of a talcum powder fiasco, said it is discontinuing talc-based JOHNSON'S Baby Powder globally in 2023. The company plans to transition to an all cornstarch-based baby powder portfolio. According to the company, the commercial decision to use cornstarch in all its baby powder products was made after conducting an assessment of its portfolio Walt Disney's streaming service Disney+ is rolling out its much-anticipated new ad-supported subscription plan for Disney+ in the U.S. as part of its bid to stem the loss and make its streaming business profitable after the services posted a hefty operating loss of more than $1 billion in the third quarter. It is also raising pricing for its bundled subscription plans with Hulu, ESPN+ and live TV.
Follow RTT