Merger creates StatoilHydro
Statoil’s shareholders secured about two-thirds of the shares in the new company, with Hydro’s owners taking the remainder. The remainder of Hydro continued separately as a large aluminium group, with additional activities in hydropower and such alternative energy forms as hydrogen and solar power. After the merger, StatoilHydro ranked as the world’s eighth largest producer of oil and gas.
A culture clash might have been expected after the merger between employees in two organisations with different and strong corporate identities. But little evidence of such conflicts has been found, according to a study by researcher Helene Loe Colman at the Norwegian School of Management.
Colman: “Social Identity and Group Belonging in Post-merger Integration” i Colman, Stensaker, og Tharaldsen (eds.) A Merger of Equals? The Integration of Statoil and Hydro’s Oil & Gas Activities. Fagbokforlaget 2011.