Hints and tips:
...Souki started Tellurian in early 2016 with Martin Houston, a former BG Group executive, with an aim to develop the Driftwood project on a 1,200-acre site along the Calcasieu river....
...Souki began discussing the location with former BG Group executive Martin Houston in 2014, when he still led Cheniere. Cheniere advanced Houston’s company $46mn to begin buying land....
...However, total shareholder returns from Shell have underperformed the broader Euronext 100 index in recent years and the group is battling to pay down $66bn of debt after acquiring BG Group in 2016....
...In that same year, BP’s soon-to-be chairman, Helge Lund, came in line for a £28m payday from his then employer BG — for only 11 months’ work....
...While the BG Group deal did not come off (the world learned about it thanks to this excellent Reuters scoop), the Syngenta deal did....
...Shell’s BG deal was an exception to an otherwise dormant M&A market since oil prices crashed in 2014 but the recent rebound above $50 per barrel has revived activity....
...Mr Souki and his partner, former BG Group chief operating officer Martin Houston, hope to undercut rivals by 15 to 20 per cent with their venture....
...Simon Henry, Shell’s chief financial officer, said the addition of BG’s production, coupled with deep cuts in spending, were beginning to “turbocharge” performance....
...Mr Cochran is himself leaving BG following the takeover by Shell. Frank Zanten is fronting his first half-year results as chief executive of distributor Bunzl....
...A heavyweight Royal Dutch Shell investor will vote against the oil company’s £36bn takeover of BG Group, arguing it is “destructive” for shareholders....
...The ISS report called the Shell offer of a 50 per cent premium to BG’s undisturbed share price “startling”, but added: “Shell seems to have agreed to a fair price for BG, even considering the decline in...
...It was “highly likely” that some of the gains made by merger arbitrage traders in the Royal Dutch Shell takeover of BG Group had made its way into the Allergan deal, said one broker....
...First half earnings at constant cost of supplies fell 87 per cent to $1bn as a result of weaker gas and oil prices and higher depreciation in the wake of the acquisition of BG....
...He has now started a new company, Tellurian Investments, with Martin Houston, former chief operating officer of BG Group, to compete against his old business....
...second-largest M&A deal ever after Vodafone AirTouch’s $172.0bn acquisition of Mannesman in 1999SABMiller’s $117.4bn deal for AB InBev, the largest beverage acquisition on recordRoyal Dutch Shell’s $81.5bn deal for BG...
...When announced, the bid put a premium on BG shares of 52 per cent. Goodness only knows what the BG share price would be today without the bid....
...However, with the exception of Royal Dutch Shell’s acquisition of smaller rival BG Group, there has so far been nothing like the wave of large deals that followed the late 1990s oil downturn....
...For Mr van Beurden, it is the price of $60 a barrel crude at which he said the newly approved £33bn takeover of BG Group would be worthwhile....
...Royal Dutch Shell had to work to persuade its investors that its acquisition of BG Group, which closed this week, was still worth pursuing even though oil and gas prices had fallen since the deal was agreed...
...But Mr Souki and his partner, Martin Houston, a former BG Group executive, are unfazed....
...Shell said the potential for growth in deep water off Brazil was a central reason for its £35bn takeover of BG Group....
...Those numbers are in line with estimates, so the City will focus on what chief executive Ben van Beurden has to say about the future following the purchase of BG for around £33bn....
...Royal Dutch Shell, which is trying to win shareholder approval for its proposed takeover of BG Group, said this month it planned a further 2,800 job cuts, about 3 per cent of the combined group’s workforce...
...• The latest report from the UK’s National Association of Pension Funds on the annual general meeting season says shareholders in a dozen FTSE 350 companies — including AstraZeneca, BG Group, Investec...
...Leviathan’s shareholders also have tentative deals to export Israeli gas to two idled Egyptian liquefied natural gas (LNG) refineries run by the UK’s BG Group and Spain’s Unión Fenosa Gas....
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