Woodside, Santos confirm discussions are ongoing surrounding possible merger
WA gas giant Woodside has confirmed it is in discussions regarding a possible merger with fellow Australian energy company Santos.
Woodside has released a statement to the Australian Stock Exchange in response to media speculation, saying discussions remain confidential and incomplete, and there is no certainty that they’ll lead to a transaction.
Woodside’s statement said the company continuously assesses a range of opportunities to deliver value for shareholders, and will continue to update the market.
Santos also released a statement, confirming it had started “preliminary discussions”.
“Santos continuously reviews opportunities to create and deliver value for shareholders,” the statement said.
“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.”
However Santos did say “any consideration of any merger is at an early stage and there is no agreement between the parties”, adding there was “no certainty any transaction will eventuate from these discussions”.
Woodside shares closed Thursday at $29.97, while Santos shares were valued at $6.83.