News: OSH UPDATE 1-Oil Search says it rejected undisclosed 'change of control' proposal

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July 20 (Reuters) - Oil Search Ltd (OSH) said on Tuesday it had rejected a recent undisclosed "change of control" proposal, without providing further details, after being asked on an investor call the day before about any approaches.

The oil and gas producer said the proposal, which was assessed by its advisers, board and senior management, was determined not to be in the best interest of shareholders.

The clarification was for a question asked during a briefing on Monday following the surprise exit of Managing Director Keiran Wulff.

The Papua New Guinea-focused company, which has a stake in the PNG LNG project, was the subject of a takeover proposal by Woodside Petroleum Ltd (WPL) in 2015. (https://reut.rs/3rmpASj)

The PNG LNG project is operated by Exxon Mobil Corp XOM.N and the U.S.-based oil producer has a 33% stake in the project.