Australia's Woodside snaps up BHP's petroleum business in $28b merger

Australia's Woodside snaps up BHP's petroleum business in $28b merger

The Woodside Petroleum Ltd. logo is displayed atop the Woodside Plaza building, which houses the company's headquarters, in the central business district of Perth, Australia, on Wednesday, Feb. 19, 2014. Photographer: Aaron Bunch/Bloomberg

BHP Group has agreed to sell its petroleum business to Woodside Petroleum in a merger to create a top 10 independent oil and gas producer worth A$38.5 billion ($28 billion) with growth assets in Australia and the Americas.

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