11 Apr 2011

Woodside Energy takeover planned by BHP

12:23 pm on 11 April 2011

BHP Billiton is reportedly planning a takeover of Woodside Energy, Australia's biggest oil and gas producer.

The Sunday Times newspaper in Britain says BHP is in detailed talks with Royal Dutch Shell, Woodside's biggest shareholder, about a $A47 billion takeover.

The newspaper says Shell will give BHP its Woodside shares in exchange for some of BHP's top assets, including the Sunrise gas field.

Once a deal is agreed, BHP would launch a full takeover offer for the listed producer.

BHP is the world's biggest miner.