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International Herald Tribune: Royal Dutch Shell bids to buy out minority stake in Shell Canada Ltd.

The Associated Press
Published: October 23, 2006
LONDON Royal Dutch Shell PLC, Europe’s second-largest oil company, said Monday it offered to buy out the minority shareholders in Shell Canada Ltd. as a further step in simplifying the structure of the energy group.
Shell, which holds 78 percent of the shares in Shell Canada, said it offered 40 Canadian dollars (US$35.55; €20.20) per share to acquire the stock it doesn’t already own. The offer values the stake at C$7.7 billion Canadian dollars (US$6.8 billion; €5.4 billion).
Royal Dutch Shell’s offer is conditional on more than half of the outstanding shares being tendered, the company said.
Royal Dutch Shell A shares were down 0.5 percent at 1758 pence (€26.26; US$33.12) in morning trading on the London Stock Exchange.
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