BHP confirms possible exit petroleum
BHP confirmed that they have reviewing a potential merger with Woodside Petroleum Ltd and a distribution of Woodside shares to BHP shareholders.
"A number of options are being evaluated. One option is a potential merger of the Petroleum business with Woodside Petroleum Ltd (Woodside) and a distribution of Woodside shares to BHP shareholders. We confirm that we have been in discussions with Woodside. While discussions between the parties are currently progressing, no agreement has been reached on any such transaction,” the company said in a statement.
They said a further announcement will be made "as and when appropriate."
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