Shell Strikes $70B Deal for BG to Expand in Deepwater Oil and Gas

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by trusted insight posted 6years ago 3374 views
Oil stocks led London higher on Wednesday as Anglo-Dutch oil producer Royal Dutch Shell embarked on its biggest deal in over a decade. Shell announced an agreement to pay $70 billion in cash and shares for BG Group to gain new deepwater oil and gas operations. The news lifted BG and a host of other energy stocks, while Shell shares retreated.