One of UK’s largest investment funds argues that deal would be ‘value destructive’ for Shell shareholders
Standard Life is to vote against oil group Shell’s controversial plan to take over rival BG, branding the deal “value destructive” for shareholders at a time of plunging oil prices.
The high-profile move by one of the UK’s largest investment funds appears to be a last-ditch attempt to rally opposition to the £35bn bid at a time when Shell management is privately confident it has won over most doubters.
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