Royal Dutch Shell and BG Group announced on Tuesday that U.S. regulators officially approved their proposed $70 billion merger.
The energy companies said the Federal Trade Commission waived the antitrust waiting period, effectively clearing the only hurdle to the deal in the U.S.
The proposal still requires approval from other nations in which BG operates, including China, Brazil, Australia and the European Union.
Shell and BG in April announced what would be the third-largest oil and gas industry transaction in history.
“Securing early termination of the U.S. antitrust waiting period from the FTC at this early stage is a clear demonstration of the good progress we’re making on the deal,” said Shell Chief Executive Officer Ben van Beurden.
Full content: The Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
T-Mobile Faces Class-Action Lawsuit Over Sprint Merger After Appeal Denied
May 16, 2024 by
CPI
Google Faces Backlash Over Introduction of AI-Generated Summaries in Searches
May 16, 2024 by
CPI
CMA Launches Phase 2 Probe into AlphaTheta’s Acquisition of Serato
May 16, 2024 by
CPI
NFL Executive Escapes Testifying in High-Stakes Trial Over Televised Games
May 16, 2024 by
CPI
EU Consumers Lodge Complaint Against Chinese Retailer Temu Over Content Rules Breach
May 16, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI