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BG Group PlcOTCQX
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  • Apr. 8, 2015, 3:19 AM
    • Based on a 90-day trading day average, Shell's (RDS.A, RDS.B) offer is worth 1,350 pence per BG (OTCPK:BRGXF) share, or a 52% premium to the latter's price of 890.4 pence.
    • The acquisition will add 25% to Shell's proven oil and gas reserves and 20% to production, and improve the company's prospects in new projects, particularly in Australia LNG and Brazil deep water.
    • Shell expects the transaction to generate pretax synergies of $2.5B a year.
    • In addition, Shell plans to increase asset sales to $30B from 2016-2018 - the company said in January that it would sell $5-6B worth of assets per year.
    • Shell intends to pay dividends of $1.88 per ordinary share in 2015 and "at least that amount in 2016." The company also expects to start a share buyback program of at least $25B from 2017 to 2020.
    • Shell -1.9% in London while BG Group is +39.2%. (PR)
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    | Apr. 8, 2015, 3:19 AM | 13 Comments