DAVID EBNER
Royal Dutch Shell PLC’s formal offer for Shell Canada Ltd. contains an independent valuation of Shell Canada Ltd. that values the firm at as much as $48 a share, higher than Royal Dutch’s bid.
Royal Dutch is offering $45 a share, or $8.7-billion, for the 22 per cent of Shell Canada it doesn’t already own. The energy multinational filed its take-over bid circular for Shell Canada on Thursday afternoon with Canadian securities regulators and the document include the valuation done by CIBC World Markets Inc. on behalf of Shell Canada, which concluded a per-share range of between $42 and $48.
The publication could reignite interest in the Royal Dutch takeover of Shell Canada, which began last October with a bid of $40 or $7.7-billion. According to the circular, Royal Dutch resisted raising what it called a “full and fair” offer but in January began to say it would consider a higher bid.
On Jan. 19, a suggestion of $43.50 a share from Royal Dutch was “not favourably received” by Shell Canada’s board of directors.
By Jan. 22, a Monday, Shell Canada told Royal Dutch that $45 a share in cash would work, a deal that was formalized and announced by the next morning.
Royal Dutch has said it requires more than half of the minority shares to be tendered to the offer and investors holding at least 20 per cent of minority stake have said they won’t sell at $45, wanting at least $50.
Until late last week, stock of Shell Canada was trading higher than $45, above Royal Dutch’s increased offer, suggesting some investors believed another bump in the bid could emerge. Last Thursday, Royal Dutch chief executive officer Jeroen van der Veer told his shareholders on an earnings conference call that the company would “move on” if the $45 a share bid failed.
Shell Canada stock sunk immediately, falling below $45, and Thursday remained below that mark, closing at $44.82, down 5 cents or 0.1 per cent.
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
