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Oil Search rejects $8bn bid
2015-09-14 18:02:32| Oil & Gas - Topix.net
Oil Search rejected Woodside Petroleum's $8 billion takeover bid, saying the proposal undervalues the company's liquefied natural gas expansion plans in Papua New Guinea. "The feedback we got from all the major shareholders we consulted with confirmed that the proposal was one that should be rejected," Oil Search chairman Rick Lee said on a conference call Monday.
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