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Shell's Record Takeover of BG Clears Final Antitrust Hurdle

  • China’s Ministry of Commerce gives unconditional approval
  • Oil's drop has pushed BG's discount to Shell's offer to 9.1%
Updated on

Royal Dutch Shell Plc got clearance from antitrust authorities in China for the takeover of BG Group Plc, removing the final regulatory hurdle for its biggest-ever deal.

The clearance from China’s Ministry of Commerce follows similar approvals from authorities in Brazil, the European Union and Australia. BG and Shell will now seek assent from their shareholders and plan to complete the transaction in early 2016. About 2,800 jobs, or 3 percent of the total workforce of the two companies, will be cut after the combination, Shell said in a separate statement.