BP shares rise on acquisition speculation; Shell denies star-news.press/wp

BP The shares were listed on Wednesday, when investors’ reaction to reports that oil specialization may be obtained.

BP The stocks have jumped more than 10 % to the highest session of $ 32.94 on a report in Wall Street Magazine This dandruff was in the early stage talks to acquire BP. The report said, referring to people familiar with this issue, that the deal was far from certainty.

BP currently has the market value of about $ 80 billion. Andrew Datear, integration operations and acquisition analyst at Enverus Intelligence Research, said if Shell acquires Major British Oil Major, it will be the largest deal in the industry since the 1990s, as Exxon’s purchase of Mobil is at 83 billion dollars.

coincidenceHowever, the rejected talks were speaking. BP shares decreased and the last is about 2 %.

“This is the additional market speculation. There are no talks,” CNBC spokesman told CNBC. “As we said several times before we focus sharply on picking the value in Shell by continuing to focus on performance, discipline and simplification.”

You are unlikely to buy a BP overall shell, as people familiar with Brian Sullivan of CNBC said. People said it is more likely that BP is divided and sold into multiple companies if a deal is transmitted.

BP has a shell and the United States infection because it is fighting to find guidance in recent years, providing the speculation that the British oil specialization is the goal of acquisition.

BP has set ambitious goals five years ago to reduce carbon dioxide emissions and investment in renewable energy. But its green axis was scrutinized with the stumbling of the profits. BP announced a strategy re -seized earlier this year, as it doubled on oil and gas while reducing spending on renewable energy sources.

Paul Sanky, the lead analyst at Sankey Research on “Power lunch”, said that BP’s attempt to convert an oil company to a renewable company “definitely a big mistake.” “It is completely different costs of capital and they should have never approached it.”

In April, the activist Eliott Management revealed that it has built a share of more than 5 % in BP, which leads to strengthening speculation that the company will be pressured to focus on its basic work for dug.