“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.