COMPANY NEWS: Shell faces a tussle in Woodside takeover bid

12/04/2000
Major oil and gas companies continue to add to their global portfolios or restructure their businesses upstream and downstream in an effort to maintain a competitive edge in high-growth regions of the world.Some of the biggest companies can find the going rough at times, however.Woodside Petroleum Ltd.'s independent directors late last month rejected as "inadequate" a sweetened offer by an Australian unit of the Royal Dutch/Shell Group to gain a 56% controlling interest in that company, up from the 34.3% it now holds. Shell Australia Investments Ltd. made a cash offer of $14.80/share (Aus.), plus a call option for one share of Woodside stock, exercisable at the same price if Shell'...
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