On Wednesday morning it was announced that Royal Dutch Shell buys BG Group for 47 billion pounds, equivalent to 531 billion. There are 50 percent above market value. Shell chief Ben van Beurden says CNBC that the CEO Helge Lund “will do anything on his own” after Shell has taken over BG Group.
– He has given clear support for the deal, says Beurden about BG -sjefen TV channel according to the Financial Times.
– The transition will take time to implement. In the period I and my team meet our responsibilities to the company and shareholders, Lund says in a press release.
Communications Yulia Caris BG Group informs NTB that Helge Lund is not going to give interviews on Wednesday.
“A footnote”
Commenting on Shell’s acquisition of BG Group shall leave not the former chief executive of Statoil much honor.
The contrast between Lunds fate and the future of the Shell chief Ben van Beurden highlighted in a comment in the Financial Times. Lund termed as one of history’s footnotes and compared with the US president William Henry Harrison, who was only president for a month before he died of pneumonia in 1841.
– Lund is intended to help Van Beurden with a takeover characterized by operational and regulatory complexity. But after such a limited period can be ekssjefen from Statoil offer, at best, smattering of BG. He will in the smallest leave the job with severance pay as an apology, says the commentary.
Attractively
Oil analyst Trond Omdal think Helge Lund knew acquisition could happen when he went from job as CEO of Statoil.
– BG had an attractive portfolio, so they have been on the radar for acquisitions quite long. That they finally bought a novelty, but given that the strategic has been attractive, that pricing until now has been moderate and that Shell aims to be a global gas player, so it is not very surprising, says Omdal, who work in Pareto Securities, said.
Omdal reviewing takeover as one of the largest transactions in years:
– You have well back to the late 1990s to find something in the same size.
Helge Lund resigned as CEO of Statoil on 15 October last year.
– How much he knew then, one can only speculate. But he has obviously known that the company was attractive to larger players. Meanwhile he took the job before the last drop in oil prices, which may have accelerated the process, said Omdal.
Stock Gigant
At a press conference Wednesday morning confirms chairman Jorma Ollila Shell that the acquisition has been planned long .
– We are confident that this is a correct strategic move for both Shell and BG Group’s shareholders, says Ollila.
Shell expects that the acquisition will make them the world’s largest companies liquefied natural gas, and the company will be greatest on the London Stock Exchange after the acquisition, Reuters.
BG Group shares jumped 37 percent on the London Stock Exchange after the news came. Meanwhile fell Shell share by 4.9 percent during the first two hours of trading.
Speculation
In the wake of the news also follows the predictions and speculation: Platou analyst Alex Gheorghe says to DN.no that he believes in comeback Statoil chief of Lund, in the long term. According DN.no will Helge Lund rest could be left with up to 395 million after the acquisition, which BG Group spokesman Kim Blomley not want to comment.
DN.no also collected comment from Johan Olaisen leader for ABG Sundal Colliers analysis team of oil and oil. He predicts more mergers and acquisitions in the oil market ahead:
Lund has not even commented what he will do in the future. We want neither to comment Shells acquisitions or some of the speculation about Lund and about Statoil possible acquisition plans.
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