Shell share price: Shareholders approve BG takeover

on Jan 27, 2016
Updated: Oct 21, 2019

Royal Dutch Shell Plc (LON:RDSA) announced that it has received backing from its shareholders for the acquisition of smaller energy rival BG Group. Following are the highlights of Shell’s release.

**Shell announcement:**
Shell shareholders vote in favour of the recommended combination between Shell and BG
The Hague, January 27, 2016 – Royal Dutch Shell plc (“Shell”) announces the poll result from today’s General Meeting held at the Circustheater, Circusstraat 4, 2586 CW, The Hague, The Netherlands. Shell shareholders expressed their support for the recommended combination with BG Group plc (“BG”) by carrying the resolution to approve and implement the transaction.

The expected timetable of remaining principal events remains as set out in the Circular.
Should BG shareholders approve the offer at shareholder meetings to be held on January 28, 2016, the transaction would be expected to complete on February 15, 2016, subject to the satisfaction or waiver of certain customary conditions, including the sanction of the scheme of arrangement to implement the combination by the High Court of Justice.
Commenting on the shareholder vote, Ben van Beurden, CEO of Shell, said:
“I am delighted with the positive shareholder vote and the confidence that shareholders have shown in the strategic logic of the combination of Shell and BG. Our immediate focus is on the successful completion of the transaction and we now await the results of tomorrow’s BG shareholder vote.”
Results of the Shell General Meeting
To approve the acquisition of BG Group plc by the Company , as more particularly described in the Notice of General Meeting. VOTES FOR 3,272,360,952 (83.08%). VOTES AGAINST 666,259,619 (16.92%)
**More to follow…**
As of 12:36 GMT, Wednesday, 27 January, Royal Dutch Shell Plc ‘A’ share price is 1,398.75p.