Platts: BG Takeover to Make Shell World's Second Largest Oil, Gas Company

Shell has agreed to acquire BG Group in a deal which values the UK-based gas company at GBP47 billion ($70 billion) and catapults the Anglo-Dutch major to second in the ranks of global oil producers.

Under the terms of the transaction, for each share they own, BG stockholders would receive GBP0.383 in cash and 0.4454 Shell B shares, the companies said in a joint statement Wednesday.

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Shell said the acquisition, which will accelerate the company's growth in LNG and deepwater oil around the world, would boost its proved oil and gas reserves by around 25% and add 20% to its production, compared with 2014.

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