Merger timetable
Oct 29 (LNGJ) - Oil Search, the Papua New Guinea LNG shareholder, has revised the timetable for seeking completion of the US$6.25-billion merger with Australian LNG plant operator Santos.
The merger implementation deed (MID) has now changed. The PNG Court date for approval is now November 10 instead of the original date of October 27. “The Oil Search Board will update shareholders and the market in due course. Shareholders do not need to take any action in relation to the merger at this stage,” said a statement.
Oil Search posts solid results amid Santos merger and progress on the Papua New Guinea LNG expansion
Oil Search, the Papua New Guinea liquefied natural gas and oil player, posted impressive third-quarter results making the US$6.25-billion merger with Australian LNG plant operator Santos even more enticing as PNG LNG expansion plans also advanced.
Santos and Oil Search delay deal on US$6Bln takeover as due diligence is extended to September 13
Australian LNG plant operator Santos and Australian-listed energy company Oil Search, which has Papua New Guinea LNG and oil stakes and Alaskan oil assets, have extended their period of mutual due diligence regarding the proposed takeover of Oil Search by Santos in a deal worth A$8.40 billion (US$6.25 billion) to create a front-rank global energy company.
