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Oil Search to reject $11.6b deal after Woodside talks canned

2015-09-13 23:26:35| Energy - Topix.net

Oil Search will formally reject a $11.6 billion takeover bid from Woodside after the Papua New Guinea-focused energy producer dramatically cancelled a scheduled meeting with its rival in Sydney on Sunday to discuss the deal. Woodside's chief executive and chairman, Peter Coleman and Michael Chaney, were due to travel to Sydney from Perth to meet with their equivalents at Oil Search, Peter Botten and Rick Lee, for the first talks since the approach was tabled on September 3. However, it emerged on Sunday afternoon the meeting had been canned despite both sides agreeing to a time and venue late last week.

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