Due diligence
Wide gulf to cross before Woodside-Santos merger comes true
Investors can’t even agree on the merits of a deal, far less the thorny question of value, leaving an uphill task to sell any transaction to shareholders.
Angela Macdonald-SmithSenior resources writerThere are wide chasms that need to be closed before the much-debated $80 billion combination of Woodside Energy and Santos can be considered anything more than a thought bubble – but the signs are that both sides are prepared to take up the task.
More than eight weeks after the country’s two biggest oil and gas producers confirmed they were in early talks on a merger, little news has been forthcoming on concrete progress on the mutual examination of assets.
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