Woodside Energy Group and Santos Ltd. have concluded discussions regarding a potential merger, the companies confirmed in separate releases.
According to Santos, following an initial exchange of information, “sufficient combination benefits were not identified to support a merger that would be in the best interests of Santos shareholders.”
Woodside chief executive officer Meg O’Neill also noted shareholder value and due diligence in its assessment of the merger discussions. “While the discussions with Santos did not result in a transaction, Woodside considers that the global LNG sector provides significant potential for value creation,” she continued.
