Shell agrees US$70 billion deal to buy BG
[LONDON] Royal Dutch Shell said on Wednesday it had agreed to buy BG Group for 47 billion pounds (S$94.7 billion) in the first oil super-merger in a decade.
In a joint statement, the two firms said that as part of the recommended deal Shell would pay 383 pence in cash and 0.4454 Shell B shares for each BG share. It said this represented a premium of around 52 per cent to the 90 trading day average.
The deal will result in BG shareholders owning around 19 per cent of the combined group.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Oil rises as dollar slips, focus shifts to economic data
California to wrap up ExxonMobil plastics probe ‘in weeks’, AG says
Gold edges higher; hovers near one-week low on tempered Middle East fears
Why has gold’s inverse relationship with the US dollar reversed?
Oil futures fall as fears of a wider Middle East war fade
Malaysia’s Sapura Energy to sell stake in SapuraOMV to TotalEnergies for US$705 million