Plus   Neg

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Galaxy Entertainment Group (WYNN) Friday announced that it has agreed to purchase 5.3 million primary shares of Wynn Resorts Ltd. at a price of $175 a share, resulting in $927.50 million of gross proceeds to Wynn Resorts. The two sale, combined with a previous sale effectively eliminate ownership of founder and former CEO Steve Wynn in Wynn Resorts. Starbucks wants to be more efficient but it is risking the fragile loyalty of its most devoted customers. The ubiquitous chain plans a major push to get coffee lovers to use its mobile app to place their orders, but regulars prefer to buy their lattes by waiting in the queue. According to reports,... Taco Bell, the Mexican fast-food chain owned by Yum Brands Inc. (YUM), Thursday said it will start selling tortilla chips in grocery and convenience stores starting May. The chips will be available in Fire and Mild sauce packet flavors and also in a Classic flavor. "This launch of our first line...
comments powered by Disqus
Follow RTT