Deals
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/BloombergThis article is for subscribers only.
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.