Takeover rumours in the London market don’t come with a more spectacular veneer than when they’re attached to BP. Unfortunately for Murray Auchincloss, the British oil company’s chief executive, neither have they ever been more credible than right now Such has been the cataclysmic value destruction at BP in recent years that its market capitalisation – at a mere £56bn – is now less than half that of Shell, and is miniscule in the context of the industry majors. Add to that the general malaise around BP; its search…
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