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Sunday, January 31, 2016
Shareholders of both Royal Dutch Shell and BG Group have approved the deal between the two that has Shell absorbing BG in a $49 billion takeover.
While the vote was not unanimous, 83% of Shell’s shareholders voted in favor of the deal, while BG’s shareholders were a bit more enthusiastic at 99.53% giving the deal a green light.
The two companies will merge on February 15. Shell will then become the world’s most powerful LNG trader and gain access to valuable oil resources offshore Brazil and in Australia.
Shell will also become operator of the discoveries made offshore Tanzania by BG and Ophir Energy, as well as the planned LNG development.
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