Shell has agreed to buy the UK’s BG Group in a $70bn deal, the first megamerger of the new lower oil price era.
Anglo-Dutch major Shell and UK firm BG on 8 April announced that Shell would pay £47bn ($70.2) for its smaller rival in a deal agreed by both firms. This values BG at a 50% premium to its closing share price on 7 April. The deal adds some 25% to Shell’s proved oil and gas reserves and 20% to production, according to the two firms’ announcement. (CONTINUED - 635 WORDS)
