Shell inches closer to BG buy-out

Offshore staff

THE HAGUE, the Netherlands - The boards of Shell and BG Group have agreed on the terms of a recommended cash and share offer to be made by Shell for the entire issued and to be issued share capital of BG.

The combination has cleared its first antitrust hurdle by receiving early termination of the US antitrust waiting period from the US Federal Trade Commission.

BG Group confirmed that the FTC clearance is the first regulatory approval received for the proposed combination. The proposed transaction requires review and approval by relevant antitrust and regulatory authorities, and support from both BG Group and Shell shareholders. BG Group and Shell confirmed today that they were well underway with the relevant anti-trust and regulatory filing processes.

In April, the Dutch supermajor announced plans to acquire the British independent’s entire share capital for around £47 billion ($70.2 billion).

Shell has said that it expects the buy-out to accelerate its growth strategy in global LNG and deepwater.

06/16/2016

 

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...