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Royal Dutch Shell has agreed to buy British gas producer BG Group for £47 billion ($69.7 billion) in cash and stock, the companies announced Wednesday. The move gives oil giant Shell a greater stake in natural gas markets in the wake of tumbling oil prices.
Consolidations through takeovers and mergers are among the ways energy companies are seeking to reduce costs and become more efficient as oil prices have slumped.
A joint statement said the boards of both companies are recommending that shareholders approve the deal that will create a more competitive, stronger company for both sets of shareholders in today's volatile oil price world. Read more...
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