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Shell, Blackstone Mull $10 Bln Joint Bid For BHP's US Shale: Sky News

Oil behemoth Royal Dutch Shell plc (RDS-B,RDSB.L,RDSA.L,RDS-A) and US private equity giant Blackstone Group L.P. (BX) are mulling a 7.3 billion pound or $10 billion joint bid to acquire the American shale division of Anglo-Australian mining giant BHP Billiton plc (BHP.AX,BLT.L,BBL,BHP), according to a Sky News report.

The assets were put up for sale last summer by BHP amid pressure from activist investor Elliott Advisors. A deal is expected to be struck later this year.

The report stated that the proposed deal would be the largest takeover in which Shell has been involved since its 35 billion pounds purchase of BG Group in early 2016.

BHP has indicated that it will consider a separate stock market listing for the division if it fails to generate sufficient value from a trade sale. It also said this week that it would look at asset swaps as part of the disposal plan.

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