Good evening,

BHP has crossed two items off its bucket list and made dealmaker dreams come true. The mining giant is officially waving goodbye to its dual listing, with all of its shareholders of its UK entity to be transferred to the Australia-based BHP Group.

At the same time, its tie-up with Woodside Petroleum has been given the green light, with the two companies entering a merger to combine their respective oil and gas portfolios to create a global top 10 energy company.

The newly formed Woodside expects about 5 per cent a year net production growth out to 2030, based on Woodside’s own estimate, and if you add this to its dividend yield, this gets you to 11 per cent, which would suggest a share price jump is in order.

Both deals have been considered and widely discussed for 15-plus years, dating back to BHP’s acquisition of Billiton in 2001.

Elsewhere, the Flower Power auction is kicking off; Pierlite has won the attention of lighting aggregator FOS Capitaland property fintech Real Flow Finance has secured a $25 million facility from Global Credit Investors.

Happy reading,

Anthony Macdonald and Yolanda Redrup

Street Talk Editors