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Shell-BG deal faces opposition from Standard Life

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Terry Macalister Energy editor

Friday 8 January 2016 18.52 GMT

Standard Life is to vote against oil group Shell’s controversial plan to take over rival BG, branding the deal “value destructive” for shareholders at a time of plunging oil prices.

The high-profile move by one of the UK’s largest investment funds appears to be a last-ditch attempt to rally opposition to the £35bn bid at a time when Shell management is privately confident it has won over most doubters.

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