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Highlights
- BHP shares have been on investors' radar after the company announced the completion of the merger of its petroleum business with Woodside Energy Group Limited on Wednesday (June 1).
- The share price of BHP Group Limited closed 0.087% lower at AU$45.610 per share on ASX today.
- Woodside shares closed 5.167% higher at AU$31.750 per share on ASX today.
The shares of ASX-listed Australian multinational mining and petroleum company BHP Group Limited (ASX:BHP) closed 0.087% lower at AU$45.610 per share on ASX today. BHP shares have been in focus after the company announced its petroleum business's merger with Woodside Energy Group Limited on Wednesday (June 1).
BHP also paid the in specie dividend to its shareholders. A dividend that is paid in the form of assets is termed as an in specie dividend.
Eligible BHP shareholders have received one new Woodside share for every 5.5 BHP shares they owned, thus amounting to 914,768,948 Woodside shares.
As part of the deal, BHP has paid approximately US$0.7 billion to Woodside in cash. Besides, roughly US$0.3 billion in cash will remain in the BHP Petroleum bank accounts to provide funding for the ongoing operations.
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The merger first announced in August last year is expected to create one of the largest energy producers in the world to help supply the energy needed for global growth and development in a rapidly decarbonising world.
BHP shares have fallen around 8% in the last one year, while the stock is up 7.62% year-to-date.
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Meanwhile, the shares of Woodside Energy Group Ltd (ASX:WDS) traded higher today. Woodside shares closed 5.167% higher at AU$31.750 per share on ASX today. Woodside has said that it will today list its shares in the form of American Depositary Shares (ADSs) on the New York Stock Exchange under the ticker "WDS".
This life in the company's share price is also due to the rise in oil prices, which pushed the energy stocks higher in today's trading session.
The benchmark index ASX 200 closed 0.80% lower today at 7,175.90 points.
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