November 19, 2015 / 10:36 AM / 3 years ago

Investor confidence in Shell-BG deal grows after Australia approval

Shell's company logo is pictured at a gas station in Zurich April 8, 2015. REUTERS/Arnd Wiegmann

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:

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

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