According to Wall Street Journal, the Deal to acquire BP by Shell It is still at an early stage, however, according to what has been leaked, the acquisition amount is expected to reach $ 80 billion.
With talks still ongoing, among the company representatives, sources said that BP is carefully considering the deal while the BP acquisition would put Shell on a more steady basis to face larger competitors, such as Exxon Mobil, and Chevron CVX.
If the deal goes ahead, it will be a combination – a milestone of the two major oil companies.
The potential terms of any agreement have not been disclosed and the deal is not sure of the time, as people who know the matter say. Discussions are moving slowly, one of them added.
BP is currently valued at about $ 80 billion. Taking into account an premium, an agreement could end up being The largest oil agreement Following the merger of the $ 83 billion dollars made by Exxon Mobil at the beginning of the century.
It would also be easily the largest mergers and acquisition agreement of the year, so far, in a market shocking by President Trump’s trade war and other geopolitical tensions.
A spokesman for Shell said: “As we have said many times in the past, we focus strongly on the utilization of Shell’s value, continuing to focus on performance, discipline and simplification.”
BP spokesman refused to comment.
Shell has been involved in the talks from a position of power, with its share exceeding BP in recent years. Shell, which, like the BP, is based in the United Kingdom but has activities worldwide, has more than $ 200 billion.