Oil Search rejects Woodside’s offer

摘要

Sydney—Papua New Guinea-based Oil Search rejected an A$11.6 billion ($8.2 billion) a takeover offer from Australia’s Woodside Petroleum, saying the offer was too low, but added that it would be open to proposals offering attractive value to its shareholders. Oil Search said Monday its board had unanimously decided to reject the offer, which was unveiled September 7. Woodside’s offer of one of its own shares for every four held in Oil Search valued the company at A$7.65/share.