Shell has publicly refuted recent speculation regarding a potential acquisition of BP, emphasizing that it is not engaged in talks to purchase the struggling energy giant. The announcement follows reports suggesting Shell could be interested in a historic merger, but Shell's focus remains on its internal strategy. The company referenced U.K. takeover regulations that restrict any potential shifts in their stance for six months. As BP seeks a turnaround amidst financial difficulties, clarity from Shell marks a pause on major acquisitions, shifting investor focus back to its ongoing strategy.
In response to recent media speculation, Shell wishes to clarify that it has not been actively considering making an offer for BP and confirms it has not made an approach.
Citing the code allows Shell to better reassure its investors that it is focused on its strategy and not massive, debt-laden acquisitions at this moment.
For now, any takeover of BP by Shell will be a 2026 story, and is unlikely to happen in 2025.
BP's share price is still underperforming its global peers and, now that Shell is out of the running as a potential buyer, we...
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