Major Shell shareholder Standard Life to vote against BG deal
LONDON Jan 8 (Reuters) - Standard Life Investments, a major shareholder in Royal Dutch Shell, said on Friday it will vote against the Anglo-Dutch's oil company's proposed $49 billion acquisition of BG Group.
"We have concluded that the proposed terms of the acquisition of BG are value destructive for Shell shareholders," David Cumming, Head of Equities at Standard Life Investments, said in a statement.
"This view is based on the downside risks to Shell's oil price assumptions plus the tax and operational risks surrounding BG's Brazilian asset base. Consequently we shall vote against the deal." (Reporting by Ron Bousso; editing by David Clarke)
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