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Woodside and Santos end talks on $80bn merger to create oil and gas giant

Santos shares fall 5% and Woodside rises 2% after collapse of talks, with two sides reportedly unable to agree on valuation

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Woodside and Santos $80 Billion Merger Talks Fail

Woodside and Santos $80 Billion Merger Talks Fail
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Santos, Woodside abandon mega-merger talks

Australian energy firms Santos and Woodside Energy on Wednesday abandoned talks to create an oil and gas firm worth more than US$50 billion.The companies under pressure as the world eyes a shift to renewable energy sources had held exploratory talks to create what would be one of the world's largest natural gas exporters.

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Woodside shelves $80b merger plan with Santos

The oil and gas giant says it has ended discussions with its smaller rival over a proposed tie-up of the two companies.

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Woodside, Santos call off $80b merger talks

The discussions, which were confirmed by the two companies in December, were still at an early stage, with each party examining the other’s assets.

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