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Ten benchmark Dutch stocks, or just under half the 25 spots that make up the Amsterdam Exchanges Index, have been acquired since 2007, when ABN Amro Holding NV was snapped up for $100 billion by a consortium led by Royal Bank of Scotland Plc.
Lund, who joined BG on Feb. 9 after heading Norway’s Statoil ASA, is entitled to liquidated damages equal to a year’s gross salary and 30 percent of base pay, the Reading, England-based company’s annual report showed.
Shell said that bringing the two companies together would produce financial gains of about $2.5 billion a year.
The Houston oil field services firm said Tuesday it is putting its fixed cutter bits, roller cone drill bits, directional drilling, logging-while-drilling and measurement-while-drilling businesses on the auction block in separate deals.
Buying BG would be Shell’s largest acquisition since the $60.3 billion merger of its Dutch and U.K. parent companies in 2005.
The world’s second and third-biggest oil field service firms are just a week away from a March 27 shareholder vote on the transaction, one of the biggest energy deals so far this century, which emerged when oil prices were falling sharply last year.
Emirates National has been seeking new oil supplies. Dragon produced an average of 78,790 barrels of oil a day last year with sales of $1.09 billion.
The purchase would bring together two companies both controlled by parent company Energy Transfer Equity, L.P. in a cash-and-stock deal.
The deal announced Wednesday provides new scale for the California company which dominates markets in the West as it picks up Aventine’s infrastructure and networks in the Midwest and East.