Shell & BG One Company After Today, Shell Ponies Up $14.4B Cash

The last major hurdle has been scaled in the Shell buyout of BG–the largest such oil and gas deal since Exxon bought Mobil in 1999. Yesterday the High Court of Justice in England and Wales approved the merger. Previously Shell stockholders approved the $69.7 billion deal (see Shell Shareholders Vote in Favor of BG Buyout/Merger). Not long after BG stockholders approved it too (see It’s a Deal – BG Shareholders Approve Shell Buyout). Shell canceled a loan it previously arranged, for $14.4 billion to help with the purchase. Instead, the company will use its own hefty piles of cash for the buyout. The unfortunate news is that Shell intends to layoff 10,000 people after the merger is complete–to save money…

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