takeove target?, page-2

Fin Review has another go today:

Woodside, Oil Search merger drums beating

The drums are beating louder about a potential $10.2 billion Woodside Petroleum move on Papua New Guinea oil and gas player Oil Search.
Independent sources in London and Port Moresby have pointed to plans for a hostile approach set to be made by the Australian player, despite an obvious hurdle in the shape of the PNG government's stake in Oil Search.
Market sources suggested Bank of America Merrill Lynch may be involved in the transaction.
Woodside declined to comment on the speculation on Thursday morning. Any move in that direction would mean a major change of heart by chairman Michael Chaney, who is known to be extremely wary of investment in the PNG region.

The dive in crude oil prices over the past year has slashed share prices across the board, opening up opportunities for predators such as cashed-up Woodside, which has made its appetite for acquisitions clear.
However Oil Search is not seen by some as the obvious candidate even if Woodside were to pursue an entry into gas-rich PNG, primarily because of the PNG government's closely held 10 per cent stake, but also as Oil Search shares have held up relatively well amid low prices.
Some sources still point to US-listed InterOil as an easier target for Woodside to pursue in PNG.
Oil Search MD Peter Botten couldn't be reached on Tuesday.