BHP unveils distribution plans and Woodside changes names

Diversified miner BHP on Friday announced it would pay shareholders an in specie dividend in the form of Woodside Petroleum shares in connection with the merger of BHP’s oil and gas portfolio with Woodside.

The shareholders of Woodside on Thursday approved the merger, which would create the largest energy company listed on the ASX, with a global top 10 position in the liquefied natural gas (LNG) industry by production.