Share this article
Australian energy giant Woodside has denied any knowledge of a takeover proposal involving the U.S.-headquartered energy heavyweight ExxonMobil.
In response to recent media speculation about ExxonMobil eyeing potential acquisition targets to expand its liquefied natural gas (LNG) footprint, the Australian player was quick to dismiss reports of potential business combination talks with the U.S. giant, emphasizing that it is not engaged in any negotiations with the American firm.
Countering the rumors circulating in industry media, Woodside highlights that it is “not aware of any proposal and confirms it is not in discussions regarding a potential transaction with ExxonMobil Corporation.”
The firm is adamant that it will continue to comply with its continuous disclosure obligations in a move to reassure its shareholders.
These media reports come shortly after Woodside decided to augment its interest in Australia’s giant untapped conventional gas resource by exercising its pre-emption right.
Based on an economic impact assessment by Deloitte Access Economics, the project could contribute more than A$141 billion ($98.7 billion) in gross domestic product (GDP) nationally.