Deals and IPOs

ACCC clears Shell's $70B takeover of BG Group

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Australia's competition watchdog on Thursday approved Royal Dutch Shell's proposed $70 billion (A$98.54 billion) takeover of BG Group, saying the deal would not change the domestic market.

Shell launches $69B cash-and-share bid for BG Group

"The ACCC's view is that the proposed acquisition would be unlikely to substantially lessen competition in the wholesale natural gas market, in either Queensland or eastern Australia more broadly," Australian Competition and Consumer Commission Chairman Rod Sims said in a statement.