Shell to buy BG Group in $70B energy deal

April 8, 2015 8:18 AM

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LONDON — Anglo-Dutch oil and gas company Royal Dutch Shell agreed Wednesday to buy Britain's BG Group in a $70 billion cash and stock deal that creates a massive European energy giant in one of the biggest deals for the sector in a decade or more.

The deal, which still needs to be approved by both firms' shareholders, will see BG Group shareholders get 383 pence ($5.70) in cash, plus 0.4454 Shell B shares for each BG share.

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