The US Federal Trade Commission (FTC) has granted early termination for the US antitrust waiting period for the $70-billion merger of Royal Dutch Shell PLC and BG Group PLC (OGJ Online, Apr. 8, 2015).
The companies reported in April that they had 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 proposed deal requires review and approval by relevant antitrust and regulatory authorities, as well as support from both sets of shareholders.
“Securing early termination of the US antitrust waiting period from the FTC at this early stage is a clear demonstration of the good progress we’re making on the deal,” commented Ben van Beurden, Shell chief executive officer.
“We’re well under way with the antitrust and regulatory filing processes in relevant jurisdictions around the world and we’re confident that, following the usual thorough and professional review by the relevant authorities, the deal will receive the necessary approvals,” he said. “We remain on track for completion in early 2016.”