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Royal Dutch-Shell boosted its offer for Shell Oil.

February 26, 1985

The British-Dutch firm has agreed to raise by $2 a share its offer for the outstanding stock of Houston-based Shell Oil in a proposed settlement of a legal battle that has delayed its attempt to gain complete control of the seventh-largest U.S. oil company. The negotiated settlement, which is subject to court approval, would increase the offer to $60 from $58 for each of the 94.5 million shares of Shell that Royal Dutch-Shell did not own when it launched the acquisition attempt. That would increase the price tag of the merger by $189 million to $5.67 billion. Before it began its bid for all of Shell Oil's stock in January, 1984, Royal-Dutch Shell already owned 69.4% of the shares.

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