Royal Dutch Shell chief executive Ben van Beurden appears to be leading this charge with a near £35 billion bet on BG Group. He is due to take the mega-merger to a crucial shareholder vote on Wednesday – which it is widely expected to pass but not without some serious debate.
Shell's seventh-largest shareholder, Standard Life, has led the protest against the deal, saying the combination is value-destructive for shareholders due to the dramatic decline in crude prices since the announcement of the tie-up back in April.
But Shell has come out fighting by reassuring investors that cost savings from job cuts and asset disposals, tied with the benefits of combining the groups' liquified natural gas (LNG) trading units make the deal an attractive long-term play.
Shell has also vowed to cut investment in order to preserve its dividend. The transaction gives Shell access to much-needed reserves and is expected to dramatically reduce the Anglo-Dutch giant's costs of production. If that's not enough to persuade the Yes camp, Jason Gammel at Jefferies told CNBC that if the deal gets the green light, Shell will be in an enviable cash position relative to its peers.
Shell's staunch defense of the deal appears to be paying off. Advisory firm, Institutional Shareholder Services, rushed to back the bid this month, helping to narrow the premium of the offer price to BG shares. Norway's Sovereign Wealth Fund, a top investor in both energy firms, also lent its blessing.
Shell predicts the tie-up will be earnings-accretive at an average crude price of $60 a barrel over a 20-30 year time horizon. But rather than sitting back and letting volatile crude markets determine Shell's fate, Van Beurden should be rewarded for the courage to act. A crisis is a terrible thing to waste.