July 20 (Reuters) - Oil Search Ltd (OSH) :
- SANTOS CONFIRMS OIL SEARCH MERGER PROPOSAL
- CONFIRMS OIL SEARCH MERGER PROPOSAL
- OWNERSHIP RATIO IMPLIED A TRANSACTION PRICE OF A$4.25 PER OIL SEARCH SHARE
- HAS PUT FORWARD PROSPECT OF A GENUINE MERGER
- UNDER MERGER PROPOSAL, OIL SEARCH SHAREHOLDERS WOULD RECEIVE 0.589 NEW SANTOS SHARES FOR EACH OIL SEARCH SHARE HELD.
- OWNERSHIP RATIO IMPLIES A TRANSACTION PRICE OF A$4.25 PER OIL SEARCH SHARE, BASED ON SANTOS' CLOSING PRICE ON 24 JUNE
- CONTINUES TO BELIEVE MERGER PROPOSAL REPRESENTS ATTRACTIVE OPPORTUNITY TO DELIVER VALUE ACCRETION TO BOTH CO AND OIL SEARCH SHAREHOLDERS
- UNDER MERGER PROPOSAL, DEAL WOULD BE IMPLEMENTED VIA A SCHEME OF ARRANGEMENT UNDER WHICH OSH SHAREHOLDERS WOULD GET 0.589 NEW SANTOS SHARES
- PRO FORMA MARKET CAPITALISATION OF A$22 BILLION POSITIONS MERGED ENTITY IN TOP-20 ASX-LISTED COS AND 20 LARGEST GLOBAL OIL AND GAS COMPANIES
- OIL SEARCH SHAREHOLDERS WOULD OWN 37% OF MERGED GROUP AND SANTOS SHAREHOLDERS WOULD OWN 63%
Source ( https://bit.ly/3rilgU0)
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