While it would be embarrassing for Ben van Beurden to push BG Group for better terms at the 11th hour, embarrassment should not enter the equation
Ben van Beurden is not wobbling – yet. Even as the price of a barrel of oil fell close to an 11-year low on Monday, the chief executive of Shell indicated, for the umpteenth time, that his group’s proposed £40bn takeover of BG Group will proceed as planned. His cue was a thumbs-up from China, the final regulator to pronounce favourably.
“This is a strategic deal that will make Shell a more profitable and resilient company in a world where oil and gas prices could remain lower for some time,” said Van Beurden. “We will now seek approval from both sets of shareholders as we move towards deal completion in early 2016.”