Shell in a bid to acquire BG Group for £47bn

Royal Dutch Shell says it has agreed a takeover bid for BG Group that values the oil and gas firm at £47bn.

The two firms say they have reached agreement on a cash and shares offer which gives investors a 50% premium on BG Group's share price on 7 April.

The deal could prove to be one of the biggest of 2015 and comes at a time of heightened merger and acquisition activity.

It could produce a company with value of more than £200bn ($296bn).