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Exxon-BP Acquisition Talk Resurfaces: Is a Deal Really Likely?

  • BP shares surge most this year on reports of takeover chatter
  • Probably just a rumor, no strategic fit: Tudor Pickering
A motorcyclist drives into a gas station operated by BP Plc in London on Feb 2., 2016.
Photographer: Simon Dawson/Bloomberg
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BP Plc’s shares surged the most this year after a London newspaper reported on rumors that Exxon Mobil Corp. sounded out major shareholders over a potential takeover.

While a bid for BP can’t be ruled out, reports about Exxon’s interest have been around for years and analysts from Macquarie Capital Ltd. to Canaccord Genuity said a deal was unlikely.