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£47billion deal, one of the biggest takeovers, creates £200 billion company

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Screen Shot 2015-04-08 at 08.12.04News of the merger led to job fears. In the UK Shell has around 6,500 staff while BG employs around 1,600. Shell is in the process of laying off 500 people at its North Sea operations where old oil fields are becoming too expensive to operate.

By Laura Chesters City Correspondent For The Daily Mail

Extracts

The bid has been months in the planning. Shell ‘ran the numbers’ on BG, Britain’s third largest energy company, last year as its share price has fallen by a fifth since the oil price crash.

Shell’s chief executive Ben van Beurden made a call to BG’s chairman Andrew Gould on Sunday March 15 and a ‘cloak and dagger’ meeting took place at the Dorchester Hotel last month. 

He described the deal as a ‘fantastic fit’ and said the ‘logic’ to buy BG has always been there but that the falling oil price made it a ‘whole lot more compelling’.

The deal will have to be approved by a series of regulatory bodies worldwide including the European Commission.

Shell employs more than 94,000 people across 70 countries. BG has 5,200 staff across 24 countries. News of the merger led to job fears. In the UK Shell has around 6,500 staff while BG employs around 1,600. Shell is in the process of laying off 500 people at its North Sea operations where old oil fields are becoming too expensive to operate.

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