InsideArbitrage Potential Deal Alert: Australia’s Woodside (WDS) in talks with Santos (STOSF)

POTENTIAL DEAL DETAILS

According to Reuters, Australia’s Woodside Energy (WDS) and Santos (STOSF) said they were in preliminary talks to create an A$80 billion ($52 billion) global oil and gas giant, as consolidation among international energy firms intensifies.

Woodside Energy Investor Relations

Santos Investor Relations

Update(s):

December 7, 2023: In response to recent media speculation, Woodside confirms it is in discussions regarding a potential merger with Santos Ltd.

February 1, 2024: According to Reuters, a large shareholder said Woodside (WDS) should walk away from its proposed $57 billion merger with Santos (STOSF) rather than pay a premium for its smaller rival. Fund manager Allan Gray Australia, which owns a ~A$700M stake in Woodside (WDS), said paying a premium for Santos would destroy value and is not in the best interests of its shareholders, the fund’s CIO told Reuters.

February 7, 2024: Australia’s Woodside Energy (WDS) and Santos said on Wednesday they had ended talks to create a possible A$80 billion ($52 billion) global oil and gas giant, and Santos flagged it would look for other ways to bolster its value. Woodside, which is more than twice as large as Santos by revenue and market capitalization, said it would only pursue a deal that would clearly benefit its shareholders.

February 23, 2024: According to a report from Asahi Shumbun, Western Digital (WDS) and Japanese chipmaker Kioxia are set to resume merger talks in late April.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.