By Stuart CondieSYDNEY--Santos was the best-performing stock on the Australian bourse in early trade after the energy explorer said it was in talks with rival Woodside Energy over a potential US$52 billion merger. Shares in Santos were up 6.0% at 7.24 Australian dollars (US$4.78) about an hour into Friday's trading session. Santos, whose stock had declined about 5% over 12 months before the announcement, said it was weighing the merger alongside other options to boost value for shareholders. "The biggest sticking point is likely Woodside's board finding the right value that would appease frustrated Santos shareholders," Byrne said. Write to Stuart Condie at stuart.condie@wsj.com(END) Dow Jones NewswiresDecember 07, 2023 20:00 ET (01:00 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal December 08, 2023 13:06 UTC