Shell offers GBP 47 billion to acquire BG Group

Just a short while after Norwegian Helge Lund took over as CEO of Britain's BG Group, the company could be headed toward a possible acquisition by Shell.

Photo: Shell

An enormous acquisition could be underway in the oil industry. Royal Dutch Shell, one of the world's largest oil companies, has this morning, Wednesday, presented an offer to acquire Britain's BG Group. The company has offered 1.367 pence per share - a 50 percent premium price compared to yesterday's closing price, corresponding to a combined purchasing price of GBP 47 billion.

Last year BG Group appointed former Statoil head Helge Lund as its new CEO - an appointment that was met with strong criticism from numerous shareholders due to the extreme size of the salary package offered to the new Norwegian CEO. The salary package was worth more than USD 36 million.

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