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US: Shell-BG $70 billion merger clears regulatory hurdle

 |  June 16, 2015

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

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