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EXCLUSIVE-Maersk, DONG oil and gas merger talks stall - sources
December 14, 2016 / 10:16 AM / a year ago

EXCLUSIVE-Maersk, DONG oil and gas merger talks stall - sources

* Sides fail to agree on price of deal - sources

* Merger would create $10 bln company

* Talks unlikely to resume “any time soon” - source

COPENHAGEN/LONDON, Dec 14 (Reuters) - Talks between shipping giant A.P. Moller-Maersk and DONG Energy to merge their oil and gas business have stalled after the two Danish firms could not agree on a price, industry and banking sources said on Wednesday.

The breakdown in talks aimed at creating a joint company worth more than $10 billion may open the door for other bids for DONG’s operations, which it is spinning off as it moves away from fossil fuels to focus on offshore wind, the sources said. (Reporting by Jacob Gronholt-Pedersen in Copenhagen, Ron Bousso in London and Arno Schuetze in Frankfurt; editing by David Clarke)

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