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.

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

Recent Posts

iPhone 13 and iPhone 13 Pro: Specifications, Release Date, Features and much more

iPhone 13 and iPhone 13 Pro: Specifications, Release Date, Features and much more

Apple iPhone 13 Pro and iPhone 13 Pro Max can be a hit with its ever new technology A15 Bionic chip and other cool profound features.
2 hours ago
Total signs $27 billion energy deal to fund 1-gigawatt solar power plant

Total signs $27 billion energy deal to fund 1-gigawatt solar power plant

The French oil major, Total, has signed a $27 billion deal to fund a 1-gigawatt solar power plant, and boost oil and gas production in the Middle-East region.
3 hours ago
PMI seals $1.51 billion takeover of British inhalation specialist Vectura

PMI seals $1.51 billion takeover of British inhalation specialist Vectura

Philip Morris International (PMI) acquires a 22.6% stake in British inhalation specialist Vecutra closing in on the controversial $1.51 billion takeover.
22 hours ago
Apple co-founder Steve Wozniak joins the space race

Apple co-founder Steve Wozniak joins the space race

Wozniak, popularly known as “Woz”, is setting up a private space company with Ripcord co-founder Alex Fielding. In a tweet, Wozniak shared a promotional video for the company c
2 days ago
Auto chip shortage affects its production; factory closures rise

Auto chip shortage affects its production; factory closures rise

Automakers like Peugot, Ford, and Toyota are on the run to regain high-margins from the auto chip making since the pandemic and weather disasters have taken over.
2 days ago
Boeing bullish on growth in Asia-Pacific region

Boeing bullish on growth in Asia-Pacific region

Boeing, the US manufacturer projects that its global fleet of airline planes will surpass 49,000 by 2040.
3 days ago