Dec 23rd, 2015
by John Donovan.


“For Shell to have a reputation for reneging on such a significant handshake as this due to a short-term collapse in the oil price would be disastrous. For better or worse, this deal will happen.”
JIM ARMITAGE: Wed, 23 Dec 2015
Sleigh bells have been heard over BG and Shell as their shares staged a modest Santa Claus rally.
The jumps were a tentative suggestion Shell’s takeover of the former British Gas exploration arm will go ahead despite the doubters.
In case you’ve been in space with Major Tim, I should explain the deal’s critics say it makes no sense at current bombed-out oil prices.
Yesterday afternoon, Shell issued its offer documents including a welter of mathematical claims aimed at assuaging such fears. read more
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Dec 23rd, 2015
by John Donovan.


By HELEN THOMAS: Dec. 23, 2015 7:05 a.m. ET
Misery loves company. Royal Dutch Shell will probably get a bit of both.
Shareholders, many of whom also own BG stock, are probably better off holding their noses and voting for a deal rather than forcing Shell to walk (and potentially management heads to roll).
FULL ARTICLE
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Dec 23rd, 2015
by John Donovan.



By Daniel J. Graeber: Dec. 23, 2015
THE HAGUE, Netherlands, Dec. 23 (UPI) — With the company expecting improved efficiency after merging with BG Group, Royal Dutch Shell said it plans to cut spending for next year more than expected.
Shell published a prospectus and circular related to its $7 billion tie-up with BG Group, one of the largest mergers of its kind since Exxon and Mobil joined in the 1990s.
“The combination with BG is a strong platform to refocus the company, to create a simpler and more competitive Shell,” Shell Chief Executive Ben van Beurden said in a statement. “At the same time, Shell is pulling multiple levers to manage through the current oil price downturn.” read more
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Dec 23rd, 2015
by John Donovan.
Dec 23rd, 2015
by John Donovan.


Two of the biggest shareholders in BG Group have sold nearly £300 million of shares in recent weeks, in a sign of rising unease over its proposed £36 billion takeover by Royal Dutch Shell.
Axa Investment Management has sold 18.4 million BG Group shares worth £168 million, cutting its stake by nearly two thirds since October. Wellington Management, an American hedge fund, has sold 11.82 million shares, worth more than £108 million and a third of its holding, since September 30. read more
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Dec 23rd, 2015
by John Donovan.
Dec 23rd, 2015
by John Donovan.



BG Group’s Queensland Curtis LNG project will be owned by Shell after the takeover.
Angela Macdonald-Smith: Energy Reporter: 23 Dec 2015
Oil giant Royal Dutch Shell has told shareholders the $US53 billion takeover of BG Group will act as a “springboard to change and reshape” the group, and outlined plans for job and spending cuts, as well as $US30 billion of asset sales that look certain to affect the business in Australia.
In a prospectus issued overnight for the takeover, which is heading for completion early next year, Shell cut expected capital expenditure for the merged group by $US2 billion to about $US33 billion, down 30 per cent from 2014 levels. It also slashed another $US1 billion from Shell’s own capex budget this year, dropping it to $US29 billion. read more
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Dec 23rd, 2015
by John Donovan.



David Cumming, head of equities at Standard Life Investments, has criticised the deal and urged Shell chief executive Ben van Beurden to pay the £500million break fee to scrap it or renegotiate terms.
By LAURA CHESTERS FOR THE DAILY MAIL: Wed 23 Dec 2015
Investment bankers and advisers will cash in on a multi-million-pound fee bonanza from Royal Dutch Shell’s £36billion takeover of BG Group.
Documents published yesterday revealed that £106millio in fees will be shared by advisors including Bank of America Merrill Lynch, Goldman Sachs and Rothschild.
The deal split the City after tumbling oil prices raised concerns it was too expensive and could affect Shell’s ability to pay a dividend. read more
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Dec 23rd, 2015
by John Donovan.



LONDON | BY RON BOUSSO AND KAROLIN SCHAPS: Deals| Wed Dec 23, 2015
Royal Dutch Shell’s (RDSa.L) proposed $53 billion takeover of rival BG Group (BG.L) will work even if future oil prices are in the low $60s a barrel, it said on Tuesday in announcing another $5 billion cut in spending next year to weather low oil prices. The company previously said the break-even oil price for the deal was $65 a barrel.
Publishing its prospectus for shareholders on Tuesday, Shell set Feb. 15 as the completion date for the deal, the largest in the energy sector in a decade and one that helped make 2015 a record-breaking year for mergers and acquisitions. read more
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