Standard Life Investment – a major investor in Royal Dutch Shell – has said it will oppose the oil company’s proposed takeover of BG Group.
It said that a weak outlook for oil prices plus risks for BG in Brazil could make the deal “value destructive for Shell shareholders”.
Few investors or analysts have openly challenged the deal’s strategic benefits for the firm.
Shell said it remained confident of winning the vote.
Shell and BG shareholders will vote at separate meetings on 27 and 28 January respectively.
Standard Life to vote against Shell BG tie-up
