BP reported subject of takeover interest; Exxon tipped as potential bidder - report
BP [LON:BP], an FTSE-100 oil and gas company, was the subject of a bid speculation on Thursday, 9 March, The Daily Telegraph reported.
The newspaper’s market report section mentioned talk that Irving, Texas-based counterpart Exxon Mobil [NYSE:XOM] might make an offer for BP, but did not cite a source for the speculation. However, analysts cited by the newspaper dismissed the speculation.
The item further noted that the speculation appeared at the same time as the news of Exxon’s USD 2.8bn acquisition of a 25% shareholding in a gas field in Mozambique.
BP’s share price closed 6.7p down on Thursday, giving the company a market capitalisation of GBP 88.80bn (EUR 101.9bn).
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