OR Shell PLC denied a Wall Street Journal report according to which he is in active talks on the acquisition of BP PLC oil -based Oil Oil.
“This is further market speculation. There are no talks, “shell spokesman said, according to Bloomberg.
BP rose up to 10% in New York earlier on Wednesday (25.06.2025) on the occasion of the report that it was in an early stage of takeover talks with Shell. The company’s shares deleted most of these profits and negotiate 1.2% higher at 12:44 pm. local time.
BP is under severe pressures after years of bad performance and the intervention of shareholder activist Elliott Investment Management. The “restart” of the strategy announced in February by CEO Murray Auchincloss was lukewarm, as analysts and investors questioned whether the company could achieve its goals to increase oil and gas production and improvement.
The speculations increase that the suffering company will become a redemption target, although the size and complexity of the BP would make any agreement very difficult. Bloomberg reported in May that Shell was studying the benefits of a takeover, but was expecting further decline in oil shares and prices before deciding whether to offer.