CANBERA (dpa-AFX) - Woodside Energy Group Ltd. said it has ceased discussions regarding a potential merger with Santos Ltd. The merger discussions were confirmed by the two companies in December.
Woodside CEO Meg O'Neill said Wednesday that for every opportunity Woodside assesses, it conducts thorough due diligence, and will only pursue a transaction that is value accretive for its shareholders.
While the discussions with Santos did not result in a transaction, Woodside said it considers that the global LNG sector provides significant potential for value creation.
Santos is an important Australian domestic gas supplier and LNG supplier in Asia.
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