Woodside Petroleum Ltd. shareholders voted overwhelmingly for the company’s $63 billion (Aus.) merger with BHP Group’s petroleum division at the Woodside annual general meeting in Perth May 19.
Woodside Petroleum Ltd. shareholders voted overwhelmingly for the company’s $63 billion (Aus.) merger with BHP Group’s petroleum division at the Woodside annual general meeting in Perth May 19.
The level of support (98.66% approval) of the scrip-based deal paves the way for Woodside to join the world’s top 10 independent oil and gas producers.
Deal terms, agreed in November 2021, are expected to deliver annual synergies of at least $570 million (Aus.) beginning in 2024, according to Woodside (OGJ Online, Nov. 22, 2021).
Shareholders also voted to change Woodside’s name to Woodside Energy.