Royal Dutch Shell Plc  .com Rotating Header Image

Shell and BG Shareholders to Vote on Deal at End of January

Screen Shot 2015-12-21 at 10.47.18

The takeover, valued at about $70 billion when it was announced in April, has come under scrutiny as crude prices slumped below $40 a barrel amid a global oversupply.

Screen Shot 2015-12-17 at 08.55.02

By Amanda Jordan: December 21, 2015

Shareholders of Royal Dutch Shell Plc and BG Group Plc are expected to vote on Jan. 27 and Jan. 28 on the companies’ planned combination announced eight months ago.

Shell and BG plan to publish shareholder documents as soon as Tuesday, the companies said Monday in a regulatory statement. In BG’s case, votes in favor must represent at least 75 percent of the total value of BG shares. Shell requires 50 percent backing.

Shell, Europe’s biggest oil company, won Chinese antitrust approval for its purchase of Reading, England-based BG this month, clearing the last regulatory hurdle for the deal.

The takeover, valued at about $70 billion when it was announced in April, has come under scrutiny as crude prices slumped below $40 a barrel amid a global oversupply. About 2,800 jobs, or 3 percent of the total workforce of the two companies, will be cut after the combination, Shell has said.

BG is trading at about 919 pence in London, having risen 7.8 percent since news of the deal first broke. Shell is at 1,454 pence, having tumbled 28 percent in the period.

SOURCE

royaldutchshellplc.com and its also non-profit sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

0 Comments on “Shell and BG Shareholders to Vote on Deal at End of January”

Leave a Comment

%d bloggers like this: