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Shell shareholders move to back £35bn takeover of BG

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David HellierTuesday 22 December 2015 

Some of the largest shareholders in Royal Dutch Shell, the giant petroleum and energy group, are expected to publicly back the company’s $53bn (£35bn) takeover of BG amid concern the deal could be sabotaged by those who want it scrapped.

Some shareholders such as David Cumming, head of equities at Standard Life Investments, have argued that the deal no longer makes sense because of the fall in the price of oil. He called on Shell’s chief executive, Ben van Beurden, to pay a $750m break fee to scrap the deal or renegotiate the terms.

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