B u s i n e s s & F i n a n c e
Woodside
fights Shell on value.
Analysts believe
Woodside Petroleum might be preparing to argue
that Royal Dutch/Shell’s hostile $10 billion
takeover offer does not offer shareholders full
value after Woodside managing director John
Akehurst yesterday said it was time to
concentrate on the company’s value and
potential for earnings growth. Woodside has been
opposing the takeover, arguing that it would not
be in the national interest.
Billiton
expects only positives from BHP.
Billiton
executive director Mike Salamon said yesterday
that the company did not expect any negative
surprises from BHP’s asset portfolio as the
two companies prepare to merge. Salamon said both
companies had been open and honest about the
quality and risks of their asset portfolios
during negotiations. Analysts have expressed some
reservations about a proposed $140 million payout
to Billiton management and employees, but agreed
the merger made operational sense.
M a r k e t W r a p
The S&P/ASX 200 index closed down 20.7 points to 3303.5 after News Corp suffered profit-taking reportedly due to currency driven selling.
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United States 0.5163 |
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Japan 62.4384 |
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United Kingdom 0.3570 |
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Singapore 0.9338 |
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