WOPEY - Woodside shareholders OK merger deal with BHP petroleum business

Woodside Petroleum (OTCPK:WOPEF) (OTCPK:WOPEY) shareholders voted overwhelmingly Thursday to approve the proposed merger with BHP's (NYSE:BHP) petroleum business, according to proxy votes shown at the company's annual meeting. BHP (BHP) will be paid in Woodside shares, giving its shareholders a 48% stake in the merged Woodside Energy, which will be a top 10 global independent oil and gas producer worth ~$40B. The merger advances miner BHP's attempt to move away from fossil fuels as it looks to decarbonize, while doubling Woodside's oil and gas production. "Operational risks could contribute to a fundamental share price breakdown" for BHP, Sandis Weil writes in an analysis posted recently on Seeking Alpha.

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Woodside shareholders OK merger deal with BHP petroleum business