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Tag Archives: merger

Shell shareholders approve deal to buy UK rival BG

Shell expects 4th Q profits to drop at least 40 percent

LONDON (AP) — Royal Dutch Shell shareholders have overwhelmingly backed the 34 billion pound ($49 billion) bid to buy BG Group, despite a slide in oil prices that have had some critics wondering about the wisdom of the mega-deal. More than 80 percent of shareholders approved the move on Wednesday. The deal will boost Shell’s oil and gas reserves by ...

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Anadarko approached Apache with offer that was rejected – source

NEW YORK – U.S. oil and gas exploration and production company Anadarko Petroleum Corp has approached Apache Corp with a potential acquisition as low crude oil prices prompt companies to seek merger partners, according to a person familiar with the matter. The prolonged slump in crude oil prices has stirred talk of consolidation among U.S. shale companies, however so far ...

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Halliburton, Baker Hughes shareholders overwhelmingly approve merger

Halliburton, Baker Hughes

Halliburton shareholders have overwhelmingly approved the company’s long-awaited merger with Baker Hughes, the Digital Journal reports. Baker Hughes also announced on Friday that its stockholders adopted the merger agreement, thereby approving the merger. Each company held their own special meetings Friday morning. Nearly 99 percent of the shareholders at Halliburton’s special meeting voted in favor of the proposal to issue ...

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Is bankruptcy next for Sabine Oil & Gas?

After its recent departure from the New York Stock Exchange (NYSE), Houston-based Sabine Oil & Gas is now dealing with default claims, the Houston Business Journal reports. Issues have continued to arise after Sabine’s merger with Colorado-based Forest Oil when shareholders officially approved the merger last December. Sabine has yet to file its annual report, although the company says it ...

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Multi-billion dollar merger awaits European Commission approval

Siemens’ $7.6 billion deal to acquire Houston-based Dresser-Rand Group, which was announced in September 2014, is not going as smoothly as expected. Siemens, a German industrial company, is having difficulty receiving approval from the European Commission, the European Union’s executive body. According to the Houston Business Journal, the European Commission said it has opened an in-depth investigation to assess whether ...

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Nabors hoping third time’s a charm as merger’s valuation continues to fall

There are new developments in the pending $2 billion merger of Houston-based C&J Energy Services Inc. and Nabors Industries Ltd. According to the Houston Business Journal, C&J Energy announced that the cash portion of its merger with Nabors’ production and completion businesses will drop from $938 million to $688 million and that the debt incurred to fund the cash consideration ...

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Recent merger to prove victorious for Lucas Energy

Despite its recent announcement that it has defaulted on a debt payment, Houston-based oil production company Lucas Energy announced today that it is working on a deal to merge with West Texas operator Victory Energy and will be seeking capital to drill in the Eagle Ford Shale. On Friday, Lucas Energy said in a statement that it defaulted on a ...

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