By Mark Kleinman, City Editor: 11 JAN 2016
A leading City investor is to vote some of its shares in favour of Shell’s £36bn takeover of BG Group, despite its public opposition to one of the oil industry’s biggest-ever deals.
Sky News has learnt that Standard Life Investments will vote its roughly 1.3% stake in BG in support of the tie-up at an extraordinary shareholder meeting later this month.
The decision will follow a vocal effort by Standard Life Investments’ top fund manager, David Cumming, to encourage Shell to renegotiate the terms of the deal.