US EditionShell denies takeover talks with UK rival BP
- On Wednesday evening, a US news outlet cited multiple sources indicating that Shell and BP are engaged in preliminary but ongoing talks about a potential acquisition of BP by Shell.
- The discussions emerged amid market speculation, but Shell and its spokesperson have denied that any takeover talks or negotiations are currently taking place.
- Shell's CEO Wael Sawan highlighted a preference for repurchasing shares rather than pursuing acquisitions, noting that any potential takeover would need to demonstrate a significant financial advantage, while the company continues to prioritize strong performance and operational simplicity.
- BP's U.S.-listed shares jumped nearly 7% shortly after the report, while Shell's shares fell about 3%, reflecting investor reactions to potential synergies and market uncertainty.
- If completed, the deal would create one of the largest European oil and gas mergers, signaling major industry consolidation, though Shell likely would not buy all of BP and any acquisition could involve asset sales.
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Shell Squashes BP Takeover Rumors, Hits Six-Month Ban - Shell (NYSE:SHEL), BP (NYSE:BP)
Shell plc (NYSE:SHEL) has issued a statement addressing recent media speculation about a potential deal to acquire BP plc (NYSE:BP). “Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach to, and no talks have taken place with, BP with regards to a possible offer,” the company said in a statement on Thursday. This is a statement to which Rule 2.8 of the Code applies. Rul…
·New York, United States
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Coverage Details
Total News Sources134
Leaning Left22Leaning Right7Center32Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 36%
C 52%
11%
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