BG chief welcomes $70 billion Shell offer with ‘mixed emotions’
Ben van Beurden, CEO of Royal Dutch Shell, left, shakes hands with the Chairman of BG group Andrew Gould during the press conference announcing Royal Dutch Shell had agreed to buy British Gas for $70 Billion.
BG chief welcomes $70 billion Shell offer with ‘mixed emotions’
Tuesday May 5, 2015
(Reuters) – BG (BG.L) Chief Executive Helge Lund on Tuesday welcomed with “mixed emotions” Royal Dutch Shell’s (RDSa.L) $70 billion takeover bid, which came only two months after he took office.
Speaking at BG’s annual general meeting in Reading, England, the former Statoil (STL.OL) boss said there is still much to do before the transaction can complete but that Shell’s bid, at a 50 percent premium to BG’s share price on April 7, maximizes BG’s value while removing potential risks.
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