Santos announced it had submitted a non-binding all-scrip merger proposal to Oil Search, under which OSH shareholders would receive 0.589 STO shares for each OSH share.
Currently values OSH at around A$4.25ps.
The new entity will become the largest ASX listed oil and gas company by
market cap.
![](https://d2cbr21qzf932u.cloudfront.net/wp-content/uploads/2021/07/STO-1024x489.png)