BP Stock Sees Brief Jump on Report of Merger Talks With Shell ...Middle East

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BP Stock Sees Brief Jump on Report of Merger Talks With Shell
source : OILPRICE ( Middle East ) () 103
BP shares jumped nearly 7% Wednesday before paring the bulk of those gains after The Wall Street Journal reported that Shell is in early-stage discussions to acquire its British rival. If confirmed, the deal would represent one of the largest energy mergers in recent history and signal a dramatic consolidation of European oil and gas majors. Shell, in the meantime, denied that takeover talks are taking place. A Shell spokesperson told the FT that “This is further market speculation. No talks are taking place,”who added that the company…

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