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Royal Dutch Shell to bid for BG Group?

 

 

 

STOCKWATCH BG gains as traders note talk of Royal Dutch Shell bid UPDATE

Thursday, June 19, 2008; Posted: 08:37 AM

LONDON, Jun 19, 2008 (Thomson Financial via COMTEX) — RDS/A | Quote | Chart | News | PowerRating — Shares in BG Group moved higher in early afternoon deals as traders noted vague talk that Royal Dutch Shell might be casting an acquisitive eye over the group.

At 1.28 p.m., BG Group shares were up 33 pence, or 2.76 percent, at 1,269 pence, but off earlier highs of 1,267.

“I’m hearing rumours that Royal Dutch Shell has appointed advisers to examine a bid for BG Group,” said one trader. Another London-based trader said he had heard the same thing.

Another though was cynical, saying “Shell has never done an aggressive deal, ever.”

And analysts were also dismissive, with one pointing out this isn’t the first time such talk has circulated but not wanting to comment further, and another saying “Who knows? anything is possible in theory.”

Shares had been more than two percent higher as the price of crude remained above $136 per barrel, and after Sanford Bernstein upgraded the gas group to ‘outperform’ from ‘market perform’ due to continued tightness in the global liquefied natural gas (LNG) market, according to dealers.

BG was not immediately available for comment. [email protected] dlh/rw

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