BUZZ-UK's BP shares tick up on report of additional takeover interest from rivals

Reuters
09 May
BUZZ-UK's BP shares tick up on report of additional takeover interest from rivals

** BP shares rise 2.7% ICAG.L to 365.1p

** Shell SHEL.L , Chevron CVX.N , Exxon MobilXOM.N and TotalEnergies TTEF.PA and Adnoc have "run the numbers" for a takeover of BP, reports Financial Times citing industry sources and advisers

**Vitol could be interested in elements of the business, adds report

** Report says BP is consulting people close to the government about whether PM Keir Starmer seek to defend Co against a takeover.

** UK govt might be receptive to a BP deal if it was part of a broader investment plan by the UAE into UK assets, sources tell FT

** In April 2024, Reuters reported that ADNOC had considered buying BP but the deliberations did not progress beyond preliminary discussions, citing people familiar with the matter.

** Last week, Bloomberg news had reported that Shell was working with advisers to evaluate a potential acquisition of BP.

** BP rated "hold" on avg; median PT is 410p, as per data compiled by LSEG

** As of Thursday's close, stock had fallen almost 10% this year

(Reporting by Raechel Thankam Job in Bengaluru)

((RaechelThankam.Job@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10