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Shell, BG close in on merger, set to publish scheme document

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Written by Rita Brown – 21/12/2015

Industry giants Shell and BG are zeroing in on their mega-merger.

Following unanimous approval from both boards, BG today confirmed it was seeking approval from the High Court to publish its scheme document and convene the related shareholder meeting.

The document is expected to be published tomorrow.

A Shell spokesperson added:”Subject to approval of the UK Listing Authority, the Shell shareholder circular and prospectus are expected to be published at the same time as the scheme document.

“Shell and BG shareholder meetings to approve the recommended combination are expected to be convened on 27 and 28 January 2016, respectively.”

Earlier this year, Shell boss Ben van Beurden said £47billion takeover was undervalued in the City.

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