Deal heralds oil super-merger
Oil giant Shell has announced that it has agreed to buy BG Group for £47bn (€64bn) in the first oil super-merger in a decade.
Shell will pay a mix of cash and shares that values each BG share at around 1,350p, the companies said. This is a large premium of around 52pc to the 90-day trading average for BG, setting the bar high for any potential counter-bid by a company like Exxon, which has said it would also use the oil markets downturn to expand. The deal will create a company worth more than £200bn.