ROYAL DUTCH SHELL launched a hostile take-over bid for the American company BARRETT at the price of USD 55 per share, valuing this company at USD 1.8 billion. The Board of BARRETT had rejected, on Friday, the proposal from the Anglo-Dutch group. Faced with this refusal, ROYAL DUTCH SHELL chose to make its offer, for which the details remain unchanged, directly to the shareholders rather than collaborate in the procedure chosen by the Board. See yesterday's EI.