MELBOURNE—Woodside Petroleum does not expect heavy selling of the company’s shares by BHP Group investors if Woodside’s acquisition of BHP’s petroleum business goes ahead in June, Chief Executive Meg O’Neill said on Tuesday.
Woodside shareholders are set to vote on Thursday on a $40 billion merger to create a top 10 global independent oil and gas producer. BHP shareholders will hold a 48 percent stake in the enlarged group to be called Woodside Energy.
There have been concerns that investors who own BHP shares but do not currently hold Woodside may seek to dump the Woodside shares they will be issued in the deal.
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