Stock is up 10% again today
Chevron, a listed, San Ramon, California-based oil company, was said to have approached the listed, Anglo-Irish exploration company Gulf Keystone Petroleum regarding a potential takeover bid, The Times reported.
The newspaper's market report section mentioned talk of a 150p per share bid approach from Chevron, but did not cite a source for the rumour.
A market report in The Daily Mail mentioned rumours that chevron was building a stake in Gulf Keystone, but did not attribute the rumour to a source.
The Independent's market report mentioned speculation that the departure of Gulf Keystone's Chairman Todd Kozel might prompt a takeover bid. The item mentioned talk that major oil and gas companies are thinking about making offers for Gulf Keystone, but did not cite a source for the speculation.
A Financial Times market report noted that Gulf Keystone shares gained 18.3% to close at 95p on the London Stock Exchange yesterday. Trading in Gulf Keystone’s shares was more than double the average volume, the item noted.
The Financial Times item noted that three of Gulf Keystone’s non-executive directors stepped down on Wednesday, and that the company’s finance director left last week.
Gulf Keystone’s market capitalisation stood at GBP 844m (EUR 1.05bn) at the close of trading yesterday.
Source The Times (London), Daily Mail, Independent