Oil Search (ASX:OSH) & Santos (ASX:STO) receive ICCC approval for merger

Company News

by Lauren Evans

Energy giants Oil Search (ASX:OSH) and Santos (ASX:STO) have received approval from Papua New Guinea's watchdog in relation to its merger. 

Clearance from the Independent Consumer and Competition Commission (ICCC) of Papua New Guinea has been satisfied and the merger is set to go ahead.

After on-going talks, the merger still remains subject to certain conditions, including court approval and the satisfaction or waiver of certain other customary conditions.

Shares in Oil Search (ASX:OSH) are trading 2.8 per cent higher at $4.23. Shares in Santos (ASX:STO) are trading 2.9 per cent higher at $6.77. 


Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.