Investors Expected to Vote in Favor of Shell-BG Combo

A large group of the world’s biggest financial experts is expected to back Shell’s beset multi-billion pound takeover of British Gas Group this week.

Shell-BG Combo

Shell-BG Group shareholders will vote on Wednesday and Thursday to favor the arrangement, which has raised doubt about the takeover since the dive in the oil price.

Despite the dire state of the oil industry, David Cumming, head of equities at Standard Life Investments, has been the most vocal adversary of the takeover, calling it catastrophic for Shell shareholders.

On the other hand, in spite of opposition over Shell overpaying for its rival – £ 47 billion – the vast majority of some of the biggest financial investors – a large number of whom hold stakes in both organizations – are relied upon to vote for the tie-up for the current week.

The powerful Anglo-Dutch firm also got some noteworthy support a week ago when the world’s greatest sovereign wealth fund Norway’s Norges, said it would support the Shell-BG takeover. The wealth fund is said to be BG Group’s second-biggest shareholder and Shell’s fifth-greatest. It has been proposed that the Qatar Investment Authority, which is a noteworthy Shell-BG shareholder, has approved the notable takeover.

Institutional Shareholder Services, a powerful advisory firm, upheld the takeover for its attractive vital method of reasoning.

Glass Lewis, which counsels with 12 of the 50 biggest financial investors in Shell-BG, is likewise in support.

BG shareholders need to vote for the arrangement with a 75 percent lion’s share and Shell needs a majority.

Avatar
Carrie Ann
Carrie Ann is Editor-in-Chief at Industry Leaders Magazine, based in Las Vegas. Carrie covers technology, trends, marketing, brands, productivity, and leadership. When she isn’t writing she prefers reading. She loves reading books and articles on business, economics, corporate law, luxury products, artificial intelligence, and latest technology. She’s keen on political discussions and shares an undying passion for gadgets. Follow Carrie Ann on Twitter, Facebook & Google.

Recent Posts

Panasonic enters a $22 billion vaccine storage race with ultracold carrier

Panasonic enters a $22 billion vaccine storage race with ultracold carrier

Panasonic received several requests from European and American logistics companies to cure test ultra-cold freezer box. This freezer contain...
14 hours ago
Orange Telecom to sell 50 % fiber assets for $1.58 million

Orange Telecom to sell 50 % fiber assets for $1.58 million

Orange, the French multinational telecommunications corporation, has agreed to sell part of its fixed fiber assets to a consortium of three ...
14 hours ago
Books Bill Gates Wants You to Read This Year

Books Bill Gates Wants You to Read This Year

Have you been waiting for the most-anticipated roundups of the year – books Bill Gates recommends? Well, here it is. ...
15 hours ago
Amazon to host pop-up vaccination clinic in Seattle HQ

Amazon to host pop-up vaccination clinic in Seattle HQ

Amazon Inc. plans to set up a pop-up clinic at its Seattle headquarters on January 24 to help vaccinate 2,000 eligible members of the publi...
2 days ago
Morgan Stanley raises CEO James Gorman’s pay to $33 million

Morgan Stanley raises CEO James Gorman’s pay to $33 million

James Gorman’s salary ($33 million) is comprised of four parts: a base salary of $1.5 million; a deferred equity award of $7.875 million; ...
3 days ago
IBM Q4 Profit Up, Banks on Cloud and AI For 2021

IBM Q4 Profit Up, Banks on Cloud and AI For 2021

IBM’s revenue is expected to rise in 2021 and generate adjusted free cash flow of $11 billion to $12 billion for the year. ...
3 days ago