Tag: ASX:STO

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Santos has revised the offer for the merger under which Oil Search investors would receive 0.6275 new Santos shares for each Oil Search share held, implying $4.29 per Oil Search share based on July 19 prices.

The combined entity would become an ASX top-20 company, overtaking Woodside Petroleum as the nation’s largest oil and gas producer.

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.