AFR Street Talk has today opened the can on discussion about a potential takeover of Oil Search by Woodside

James Marlay

Livewire Markets

AFR Street Talk has today opened the can on discussion about a potential takeover of Oil Search by Woodside. Oil Search is an obvious takeover candidate for Woodside and it appears the chairmen of the two energy organisations have arrived at the same conclusion. According to well placed sources, Rick Lee and Michael Chaney have held informal talks at least twice on a potential $11 billion plus deal. While it's understood these conversations have been casual and inconclusive, it provides more grist to the rumour mill of an impending merger. Woodside's decision to jettison plans to buy into the $US2.5 billion Leviathan gas venture in Israel may deliver another impetus as the Perth-based gas producer casts around for future growth. It will be interesting to see how the market responds this morning.... For AFR subscribers you can access the article here: (VIEW LINK)

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James Marlay
Co Founder
Livewire Markets

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