The man who took charge of the troubled BG Group two months ago stands to earn up to £32 million after the FTSE 100 oil and gas company agreed to a takeover by Royal Dutch Shell.
In the biggest deal yet between two London-listed companies, Shell said that it was paying £47 billion for BG in a mixture of cash and Shell shares, representing a 50 per cent premium to BG’s closing share price on Tuesday.
Shares in Shell closed down more than 4 per cent, off 92¼p at £21.16¼, as the City gave the prospect of extra risk and diminished earnings in the near term a cool reception. Shares in BG, however, surged more than 38 per cent, closing 346p higher at £12.56½.
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