By Dan Lonkevich
Royal Dutch Shell Plc, Europe’s biggest oil company, won’t raise its C$45 ($38.25) a share offer for the stock it doesn’t already own in Shell Canada Ltd., Chief Financial Officer Peter Voser said today in an interview.
“We think it’s a full and fair offer, and the only offer to shareholders,” Voser said from Shell’s offices in New York. The offer is 37 percent higher than the price of shares of Shell Canada the day before the offer was made, he said.
Shell Canada shareholders have until 8 p.m. Toronto time on March 16 to tender their shares. The offer is conditional on the acceptance of more than 50 percent of the outstanding shares of Shell Canada.
The Hague-based Shell initially bid C$40 a share for the 22 percent of Shell Canada it doesn’t already own. The C$45 bid is the midpoint between a fair-value range of C$42 to C$48, according CIBC World Markets. The offer values the outstanding shares in Shell Canada at C$8.7 billion.
Some shareholders, including Jarislowsky Fraser, which owns 29 million shares of Shell Canada, have said they won’t tender their shares at the higher price.
Voser declined to comment on the outcome of the tender offer.
Shell has ample projects to pursue its strategy of increasing production by drilling more wells, he said.
“We are managing 140 projects in design phase, some of which have been postponed.” Those could be restarted should the tender offer fail.
He declined to comment on whether Shell might consider other acquisitions.
To contact the reporter on this story: Dan Lonkevich in New York at [email protected] .
14 March 2007
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.
