Lol. your math is wrong. Santos doesnt own 100% of png.
anyway, the reality is that all external analysts are telling woodside to walk away as they think even a 0% premium is dilutive to woodside. The only good tier 1 asset in santos portoflio is PNG and even that is unfortunately in a politically unstable country.
my bet is on a maximum premium of 5-10%. Likely that a deal won't go ahead.
News: STO Woodside CEO says precedent for M&A in oil and gas sector is for low to no premium, page-19
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