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Shell launches agreed £47bn bid for UK gas producer BG Group

Screen Shot 2015-04-08 at 08.12.04Guardian article by Julia Finch published 7 April 2015

Shell launches agreed £47bn bid for UK gas producer BG Group

BG confirmed on Wednesday that it was offering a cash and shares deal worth £13.67 a share – a 50% premium on BG’s market value on Tuesday night, when news of the deal first leaked.

Ben van Beurden, chief executive of Shell, said: “Bold, strategic moves shape our industry. BG and Shell are a great fit. This transaction fits with our strategy and our read on the industry landscape around us.”

Shell chairman, Jorma Ollila, said the deal was an important one for Shell: “The result will be a more competitive, stronger company for both sets of shareholders in today’s volatile oil price world.”

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