O&G Deal Of The Decade Given Nod By Shell Shareholders

Shell's shareholders on Wednesday approved the largest acquisition in the O&G space since Exxon bought Mobil in 1998. More than 88% of Shell's shareholders voted for the company's takeover of BG Group, the Anglo-Dutch major said in a statement.

What the approval means is that Shell's shareholders believe the acquisition will help the company's performance amid this downturn. Since the deal was announced last April,some shareholders had questioned whether Shell was paying too high a price for the takeover. Shell CEO Ben van Beurden has said, however, that the deal will increase Shell's cash flow and enhance Shell’s ability to pay dividends, and BG Group’s rising output will help bolster Shell's falling production, Bloomberg noted in a Wednesday report.

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