Shell To Acquire BG Group For $70Bn, Biggest Deal In 10 Yrs – 9 April 2015

RT logoThe Anglo-Dutch oil major Royal Dutch Shell is to acquire Britain’s BG Group Plc for $70 billion, narrowing the gap with a global leader ExxonMobil.

“The result will be a more competitive, stronger company for both sets of shareholders in today’s volatile oil price world,” Shell chairman Jorma Ollila said in a statement Wednesday.

The deal will give Shell access to a number of oil and gas reserves, and develop exploration which is becoming increasingly expensive. For example, the company has spent about $6 billion on developing the north coast of Alaska, and hasn’t yet managed to finish a single well.

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