BRIDGET CARTER: Mergers & Acquisitions Editor Sydney: December 5, 2016
Following Archer Daniels Midland’s sale of its GrainCorp stake on Friday, the next big block trade to watch out for is a $3 billion-odd sale by Shell out of Woodside Petroleum.
Shell has an interest of close to 14 per cent in the business, and the oil price rally last week that triggered a run on Woodside’s shares has many watching the situation.
In 2014, Shell sold a 19 per cent interest in Woodside for $41.35 per share through Citi and Goldman Sachs, and four years earlier, it offloaded a 10 per cent stake at $42.23 in a deal underwritten by UBS.