LONDON (Reuters) - Investor confidence in the Royal Dutch Shell’s RDSa.L proposed $70 billion acquisition of BG Group BG.L rose on Thursday after the merger won a key approval from Australian regulators.
The premium of Shell's combined cash and share offer to BG shares narrowed to below 9 percent on Thursday, according to Reuters data. (graphic: link.reuters.com/qyf54w)
The Australian Competition and Consumer Commission (ACCC) earlier gave its unconditional clearance for the deal which will make Shell the world’s top liquefied natural gas (LNG) trader and a key offshore oil producer.
The merger still requires the green light from Chinese regulators. Shell hopes to complete the deal by early next year.
Reporting by Ron Bousso; Editing by Mark Potter