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On 1 June 2022, Woodside Energy Group Ltd announced the completion of its merger with the oil and gas portfolio of BHP Group Ltd, creating

On 1 June 2022, Woodside Energy Group Ltd announced the completion of its merger with the oil and gas portfolio of BHP Group Ltd, creating a global top-10 independent energy company. How did the stock market react to the initial announcement surrounding the merger between Woodside and BHP Petroleum? Did the market think this merger creates value for the respective shareholders of Woodside and BHP? [Please provide a detailed explanation]

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