Anglo-Dutch major Shell’s $70bn takeover of UK firm BG was given the green light this week as both firms’ shareholders voted overwhelmingly in favor of the deal. On 28 January, 99% of BG shareholders voted to approve the deal, while a day earlier 83% of Shell’s shareholders voted the same way.
The merger, which was announced in April last year (MEES, 10 April 2015), will be finalized on 15 February almost 20 years since BG was formed. The new combined company is due to overtake US-firm Chevron as the world’s second-largest publicly traded oil and gas company, behind only ExxonMobil. (CONTINUED - 127 WORDS)