“ Oil explorer BG Group agreed to buy Australian firm Queensland Gas Company (QGC), valuing the firm at around £2.2bn. 3:00AM New York, 7:00PM Sydney – Queensland Gas Company soars 80% on a deal with UK based BG Group. BG Group agreed to buy Australian company Queensland Gas Company. A firmer oil price and record profits boosted BP 29p to 467p, while BG Group rallied 24p to 686p after confirming the Queensland Gas deal. Queensland Gas soared 80% after the company agreed to an A$5.6 billion takeover offer from BG Group. By Phil Cozens | 06:56:34 | 28 October 2008 This material is the copyright material of Citywire Financial Publishers Ltd. Queensland Gas Co. soared, limiting declines in Australia, after BG Group Plc agreed to buy the rest of the company. based BG Group, which launched a failed $13.8 billion bid for Origin Energy, offers $5.75 for each QGC share. Shares in Queensland Gas have jumped 80 per cent after a nearly $6 billion takeover offer from British gas producer, BG Group. BP was down 4 percent, BG Group shed 5.5 percent and Royal Dutch Shell lost 5.3 percent. 10 per cent.
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