Santos Jumps on Prospect of A$80 Billion Deal With Woodside Energy.

CONOCOPHILLIPS Co.; LIQUEFIED natural gas; PRICES

ADELAIDE (S. Aust.); PERTH (W.A.)

Santos Ltd. and Woodside Energy Group Ltd. are in preliminary talks to create a liquefied natural gas powerhouse with a combined value of A$80 billion ($53 billion). Santos, based in Adelaide, saw its stock rise 11% in Sydney, while Woodside, based in Perth, fell 3%. The companies are considering a potential all-shares proposal with a 20% to 30% premium to Santos' closing price. However, analysts have expressed skepticism about the deal's operational benefits and Woodside's ability to justify a premium. Other potential buyers for Santos include TotalEnergies SE, BP Plc, and ConocoPhillips. [Extracted from the article]

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