Royal Dutch Shell BG Group mega-merger: Four things you need to know about the takeover deal April 8, 2015 After BG's board recommended a massive £47bn takeover by Shell, these are the four big things you need to know about the deal. 1. It’s the 14th biggest takeover ever The deal swoops into the record books as the 14th largest M&A deal in history. It will create the biggest company on the FTSE. It's [...]
BG Group share price rockets while Shell tumbles after takeover deal April 8, 2015 Shares in BG Group have rocketed in early trading after a takeover deal by Royal Dutch Shell was confirmed. BG shares shot up more than 40 per cent to 1298.50 pence per share on yesterday's close of 910.40 pence per share – their highest since September. Shares in BG, along with other oil producers, have been [...]
BG Group agrees to £47bn takeover by Royal Dutch Shell in oil mega-merger April 8, 2015 Oil giant Royal Dutch Shell has announced a takeover of BG Group, in a deal valuing gas producer BG at £47bn. Shell will pay a premium of around 50 per cent on BG’s shares, which closed up by 6.74 per cent at 910.40p yesterday, giving it a market capitalisation of £31bn. BG’s board have recommended [...]
Statoil’s Helge Lund to take up role at BG early February 9, 2015 Oil ginat BG Group unexpectedly welcomed its new chief executive Helge Lund yesterday, after he struck a deal with ex-employer Statoil to release him from his contractual commitments three weeks early. The news pushed shares in the company up by three per cent. Lund’s appointment was announced in October last year. He previously spent a [...]
BG Group’s new chief executive Helge Lund has first day in the top job February 9, 2015 Starting a new job is always daunting but BG Group's new chief executive Helge Lund will have to contend with crumbling global oil prices which prompted an $8.9bn write-off and consequent fourth-quarter loss. Lund, who had been due to start on March 2, will begin his new role today "following [an] agreement last week from [...]
Rocky market could prompt oil mega-mergers as price fall forces drastic decisions February 3, 2015 After six months of falling oil prices, analysts have pointed to a possible mega-merger between the majors. Chances of a shock deal have been heightened by firms slashing their spending in the face of oil prices that are expected to remain low for at least the next six months and possibly the next three years. [...]
BG Group share price falls 1 per cent after £6bn impairment charge on falling oil prices February 3, 2015 BG Group has written-down the value of its business due to crumbling commodity prices – nonetheless the group believes it is well-placed to weather the oil price rout. The figures The oil and natural gas company was hit by an £5.9bn pre-tax impairment charge mainly due to the fall in global commodity prices. "The substantial [...]
BG Group’s share price rises as Egyptian government repays $350m debts February 2, 2015 BG Group's share price jumped this morning on the back of news that the Egyptian government was repaying outstanding debts of $350m (£233m). The payment is part of a scheme to clear debt owed by the Egyptian energy sector, where the British oil and gas company is heavily focused. Today's payment reduces the [...]