Good evening,

It wasn’t M&A Monday so much as mega-deal Monday this week.

The only big deal news of note was Woodside Petroleum and BHP Group’s agreement over the latter’s petroleum assets, which will be vended into Woodside in return for a 48 per cent stake in the combined group.

The deal, worth about $20 billion, was in line with what Woodside and BHP announced in August. The new bit was the pair’s agreement to progress their $US12 billion Scarborough project (at least until Woodside takes full control in the middle of next year).

In Street Talk tomorrow we look at how Woodside and BHP held their nerve during a volatile few months of negotiations.

We’ve also spotted a raising at unlisted public company Tellus Holdings, while trading platform Openmarkets has a new M&A deal and associated raising.

Happy reading,

Anthony Macdonald, Yolanda Redrup and Kanika Sood
Street Talk editors