Investor confidence in Shell-BG deal grows after Australia approval
LONDON, Nov 19 (Reuters) - Investor (LSE: 0NC5.L - news) confidence in the Royal Dutch Shell's proposed $70 billion acquisition of BG Group rose on Thursday after the merger won a key approval from Australian regulators.
The premium of Shell (LSE: RDSB.L - news) 's combined cash and share offer to BG shares narrowed to below 9 percent on Thursday, according to Reuters data. (graphic: http://link.reuters.com/qyf54w)
The Australian Competition and Consumer Commission (ACCC) earlier gave its unconditional clearance for the deal which will make Shell the world's top liquefied natural gas (LNG) trader and a key offshore oil producer.
The merger still requires the green light from Chinese regulators. Shell hopes to complete the deal by early next year.
(Reporting by Ron Bousso; Editing by Mark Potter)