Oil Search Rejects Woodside’s $8 Billion Offer as Too Low

Updated on
  • Shareholders see opportunistic bid as having little merit
  • Company would discuss any `compelling' offers in the future

Oil Search Ltd. rejected Woodside Petroleum Ltd.’s $8 billion takeover bid, saying the proposal undervalues the company as it seeks to expand in the liquefied natural gas industry in Papua New Guinea.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.