By John Donovan
On 29 Jan I published the comments from a former Shell employee who advised, based on Shell insider information, that Ben van Beurden and Marvin Odum would be ringing the bell at the New York Stock Exchange to day, celebrating the launch of SHLX (Shell Midstream Partners LP) on the NYSE.
That seemed unlikely since Shell Midstream Partners rang the closing bell at the NYSE on Friday 16 Jan 2015 for that same purpose.
The source speculated that there is something bigger going on – perhaps the announcement of a Royal Dutch Shell BP merger?
Since it seemed highly unlikely that Shell would be involved in two successive bell ringing ceremonies at the NYSE within a matter of days, I wrote to the NYSE, but received a cagey response. No confirmation of any NYSE event involving Shell today. I could find nothing on shell.com.
However, I have just been informed that against all logic, the first part of the tip-off is correct.
It remains to be seen if the related speculation is just as accurate.
A mega merger would not come as a huge surprise given the degree of related speculation in the news media following the collapse in the price of oil and the devastating consequences to the oil industry.
Is Shell about to spin off or float Shell Oil (USA)? more speculation…
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