Woodside and Santos $80 Billion Merger Talks Fail

Santos shares have dropped nearly 9 percent after Woodside announced it was ending talks on a merger between the two companies.

An aerial shot of Woodside's North-West Shelf gas plant in Karratha, Australia, on April 17, 2008. AAP Image/Rebecca Le May

Talks on a merger between rival energy producers Woodside and Santos have ended, with the parties reportedly unable to agree on a valuation.

In the wake of the announcement, Santos shares fell by almost 9 percent while Woodside’s rose by 1 percent.