Papua New Guinea-focused Oil Search rejected on Monday Woodside's A$11.65 billion (US$8 billion) takeover offer, describing it as "highly opportunistic" and "grossly" undervaluing the company. The response was largely expected after Woodside had proposed an all-share merger that implied a narrow 14% premium to Oil Search shares, based on the Sep. 7 closing price (IOD Sep.9'15).
展开▼
