For decades, rumors have been occasionally about a fusion of the two British groups. It would be one of the largest deals in the oil industry ever. It is possible that the stage of research by Shell into the acquisition of BP has not yet been advanced far enough to have to come up with a statement according to the obligations of a stock exchange listings.
According to The Wall Street Journal, who based himself on insiders, the conversations between representatives of both companies would be in full swing and BP would seriously consider the rapprochement. With the acquisition of BP, Shell would be better able to cope with larger rivals such as ExxonMobil and Chevron. BP does not want to comment on the rumors.
‘Shell busy taking over rival BP, waiting for a lower oil price’
Investors responded directly to the article on Wednesday. In the so -called after -trade trade, the shares of Shell fell in value, while the price of BP rose correctly.
Shareholder wants a higher return
BP has already initiated the sale of its lubricant branch Castrol in February. Bidders including several private equity firms would remain less than the $ 8 billion required. According to its plans, BP wants to bring in $ 20 billion with sales of parts. BP shareholder Hedgefonds Elliott demands a considerably higher return from the London neighbor of the Shell that was also British since 2023.
Despite interventions in the group by the new CEO Murray Auchincloss since 2023, the course of BP has fallen 23% in one year. In the same period, Shell is racing 10% lower on the stock market at a 20% lower oil price in that year.