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BRIEF-Oil Search updates on non-binding indicative proposal from Woodside

Published 08/09/2015, 10:14 am
Updated 08/09/2015, 10:17 am
© Reuters. BRIEF-Oil Search updates on non-binding indicative proposal from Woodside
OSH
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MS
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Sept 8 (Reuters) - Oil Search Ltd OSH.AX :

* Non-binding indicative proposal from Woodside OSH.AX

* Says received a non-binding indicative proposal from Woodside

* Oil Search granting an agreed period of exclusivity

* Says Oil Search board intends to review the proposal

* Proposal from Woodside under which Woodside would acquire all of shares in Oil Search for consideration of one Woodside share for every four Oil Search shares held

* Says Oil Search has appointed Morgan Stanley (NYSE:MS) as its financial adviser and allens as its legal adviser

* Wishes to emphasise that there is no guarantee that a binding proposal can be agreed between the parties

* Says proposal would also be conditional on the parties entering into a binding implementation agreement

* Source text for Eikon ID:nASXkm6Cv

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