(Adds details of ACCC review)
Dec 16 (Reuters) - Australia's competition regulator on Thursday approved Woodside Petroleum's (WPL) agreed $28 billion merger with BHP Group's (BHP) petroleum arm, saying it would not reduce competition in the domestic gas market.
The Australian Competition and Consumer Commission (ACCC) said it found Woodside would continue to face competition from several suppliers after the deal that will create a global top 10 independent oil and gas producer.
Woodside will have a 20% share in the domestic gas market after the deal and will continue to compete with Chevron CVX.N and Santos (STO) , as well as smaller suppliers including Shell RDSa.L and ExxonMobil XOM.N , the ACCC said.
Woodside plans to put the merger to a shareholder vote in the second quarter of 2022.
BHP and Woodside did not immediately respond to a request for comment.
(Adds details of ACCC review) Dec 16 (Reuters) - Australia's...
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$39.64 |
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Mkt cap ! $201.3B | |||
| Open | High | Low | Value | Volume |
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