BHP / WPL merger, BHP relisting on ASX

BHP are potentially offloading their oil business to Woodside Petroleum ASX:WPL. It is suggested BHP holders will receive WPL shares as part of the deal.
It is also rumoured that BHP will make their primary listing on ASX. Possibly with a secondary listing in London.
Please can 212 look into how this will affect current holders of BHP, specifically in an ISA.


Thu 02 December 2021 09:49 |

(Sharecast News) - Iron ore company BHP Group has made a final board decision to unify its corporate structure under its Australian parent company, with the merger expected to be completed by the end of January 2022.

BHP Group said on Thursday that following a strategic review of its dual-listed company structure, now was the right time to make the change due to changes to its portfolio, reduced earnings from its PLC assets and lower than initially predicted cost associated with the unification.

Back in August, BHP outlined its intention to merge its corporate structure, with a primary listing on the Australian Securities Exchange, as well as a standard listing in London and a secondary one in Johannesburg.

BHP stated the unification was now subject to regulatory and shareholder approval, with a general meeting scheduled for 20 January to attain the latter.

Chief executive Mike Henry said: "A unified corporate structure will make BHP simpler and more agile, with the strategic flexibility required to shape our portfolio to deliver value through producing the commodities needed for continued economic growth, improved living standards, electrification and decarbonisation.

“We will retain listings in the UK, US, South Africa and Australia, providing BHP with continued access to global markets and giving shareholders the opportunity to benefit from our portfolio, management and operating performance for long-term value.”

Did you get any update on this, I note that Woodside is only listed as an ADR so I would guess BHP shareholders will get cash instead?

BHP Group Ltd.'s ADR spin-off was just completed. :white_check_mark: .
We’ll share more details about the LSE listing’s spin-off in the upcoming weeks.

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Should be available on LSE if anyone interested.

Hey, everyone.

We’ve reflected the BHP Group (LSE) spin-off and distributed 0.1807011 Woodside Energy Group (WDS) shares per every 1 BHP Group (BHP) share/s held at the end of 2022-05-24.

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