One of the largest takeovers in oil sector for 20 years comes after fall in crude prices, as gas group’s CEO looks set to receive £25m in exit pay deal
Royal Dutch Shell has agreed to buy gas group BG for £47bn after a plunging oil price prompted a swoop on its long-coveted takeover target.
The takeover of BG, formerly the exploration arm of British Gas, will be the the energy sector’s biggest for a decade and create a company worth almost £180bn.
Related: BG and Shell could be just the first of many energy mergers
Related: BG Group concedes failings over CEO Helge Lund’s £25m pay deal