Financial Times FT.com

Shell accepts BG Group offer for Pure Energy

By Elizabeth Fry

Published: March 3 2009 23:17 | Last updated: March 3 2009 23:17

BG Group of the UK has moved a step closer to acquiring Pure Energy Resources , the Australian coal seam gas explorer, by winning acceptance for its A$1bn ($637m) takeover offer from Royal Dutch Shell .

Shell said in a statement on Tuesday that it would it accept BG’s A$8.25-a-share cash bid in respect of its 11.2 per cent holding “in the absence of a superior offer.”

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