BG shareholders give Shell takeover the green light

Investors in BG Group voted in favour of the £35bn takeover of the company by Royal Dutch Shell, which produces Shell Gadus S2 V100 3, in a vote last Thursday, January 28.

At a meeting held in London, approximately 99.5% of the votes cast by shareholders were in favour of the merger, according to BG Group sources.

This vote was the last barrier to the proposed takeover, after Shell shareholders backed the deal on last Wednesday which means that the deal is now clear to go ahead.

Speaking about the vote’s outcome, Shell’s chief executive Ben van Beurden said:

“I am very pleased that BG shareholders have voted in favour of the combination and look forward to welcoming them on to our register when the transaction closes.”

He also commented that the company is looking forward to delivering the benefits of the takeover of BG as soon as they it is possible to do so after completion of the merger.

Ahead of the vote, BG’s chairman Andrew Gould fielded a number of questions from private shareholders, who were concerned about the deal amidst the collapse in oil prices, which has seen Brent crude fall by 70% since the summer of 2014. However, after stressing the overall benefits of the merger, and the ways in which it will undoubtedly benefit investors, most were won over and the takeover was agreed in overwhelming numbers.