BG says still happy with Shell bid as oil price rise boosts LNG
BG says still happy with Shell bid as oil price rise boosts LNG
By Karolin Schaps:Fri May 8, 2015
May 8 (Reuters) – BG Group said on Friday it was still happy with Shell’s $70 billion takeover bid despite a recent upturn in oil prices that led the company to increase the profit outlook for its liquefied natural gas (LNG) business.
A near 20 percent rise in oil prices since Shell made its agreed bid for BG on April 8, when the cash and shares price valued BG at 47 billion pounds ($72.6 billion), has raised concerns that investors might question that valuation and put pressure on Shell to conclude the deal as quickly as possible.
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