NOTES:
Santos & Oil Search have agreed to a revised merger proposal, which would see Oil Search shareholders receive 0.6275 shares in new Santos for each Oil Search share held. This would equate to Oil Search shareholders owning 38.5% of the combined business while Santos shareholders own the remaining 61.5%.
The deal implies a 16.8% premium to the Oil Search closing price on July 19 and it would create a company with a combined market cap of $15.5 billion.
REGIONS:
Australia
International